As if yesterday’s news wasn’t crazy enough, Binance CEO, Changpeng Zhao, has announced that Binance is walking away from the deal to acquire FTX. This came just a day after the announcement that Binance has signed a nonbinding letter of intent to acquire FTX.com (and bail them out), following a liquidity crunch on the FTX crypto exchange. Source: X Factor Global | Giphy For context, Binance is the largest crypto exchange and FTX was the third largest in the world, making this huge news within the crypto industry. But why did Binance back out? And more importantly, what happened to FTX? Disclaimer: The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​MAS strongly discourages investing in cryptocurrencies and has deemed that they are not suitable investments for the public. Readers should always do their own due diligence and consider their financial goals before investing in any investment product....