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Crypto giant Binance has signed a non-binding agreement to buy rival FTX’s non-United States unit, FTX.com, to cover a “liquidity crunch” at the cryptocurrency exchange, the companies said on Tuesday.
The surprise move has raised new concerns about the risks investors face in the volatile crypto market.
Binance CEO Changpeng Zhao said in a tweet that FTX, run by billionaire Sam Bankman-Fried, had “asked for our help” after “a significant liquidity crunch”.
Zhao said Binance,…
