Binance refuse the deal to buy FTX, the crypto market is in a panic
Binance refused the acquisition of the competitor FTX. The amount of the deal is undisclosed.
The firm published the declaration in the Wall Street Journal. It states that Binance would like to support FTX clients, but the problems are apart from its possibility and competence.
Head of Binance Changpeng Zhao talked about the deal on Tuesday. Also, he admitted that the deal will be pending until the completion of the due diligence process.
In case of success, this deal could unite two major crypto exchanges. According to Coingecko, as of Wednesday, Binance has $49 billion in its account. FTX accounted for $4 billion in trading volume over the past day. This is almost a quarter of the total cryptocurrency trading volume.
Bitcoin overcame the four-days fall, including a decrease of almost 16% on Wednesday. Its price rose about 3% to $16.200.
The issue of inflation is currently of less importance in the foreign exchange market. Thus, according to economists at Commerzbank, dollar bears will not suffer losses even on the release of optimistic nonfarm payrolls.
Yesterday at 12:16 PMObviously there has been a structural shift in the markets toward a bearish dollar position. According to economists at Internationale Nederlanden Groep (ING), current U.S. nonfarm payrolls data may not cause an inversion of this trend.
Yesterday at 12:10 PMEuropean Central Bank President Christine Lagarde stated that inflation expectations should not change. People should be confident that price growth will return to the target level.
Yesterday at 11:56 AMCentral banks have recently been stepping up measures to combat global inflation. Investors, meanwhile, are actively discussing the continuation of high price levels amid limited supply.
Yesterday at 11:30 AMThe focus is on the OPEC+ meeting and the entry into force of bans related to the import of Russian oil.
Yesterday at 12:59 PM