Binance Agrees to Acquire FTX
His empire crumbling, Sam Bankman-Fried tweeted word of a truce that favors users.
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Show Notes
“We have come to an agreement on a strategic transaction with Binance for FTX.com,” tweeted FTX CEO Sam Bankman-Fried at 11:03 a.m. ET, thus containing what threatened to be the crypto industry’s greatest meltdown. That agreement, however, means Binance will acquire FTX and “help cover the liquidity crunch,” as CZ put it in his tweet announcing the ceasefire. As the dust settles, Ash Bennington and Marco Olivera welcome Jack Niewold, the founder of the Crypto Pragmatist newsletter, to talk about where FTX, Binance, and the industry go from here. Later, Jason Schwartz, a tax partner and the co-head of digital assets at law firm Fried Frank, joins Ash and Marco to discuss the broader implications of LBRY’s landmark case against the U.S. Securities and Exchange Commission.
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