FTX News Updates: Amid a difficult scenario at FTX with the liquidity crisis, the company has news issues to deal with. According to latest reports, a majority of FTX’s employees in some important teams have resigned amid the exchange’s liquidity crunch. This comes amid Binance’s ongoing due diligence process in assessing FTX’s situation before deciding on the acquisition. Meanwhile, latest reports also indicate that Binance is not really interested in going ahead with the deal after its initial round of assessment.
FTX Staff Quit Amid Binance Assessment
As per a report by Semafor, bulk of the legal and compliance team at the Sam Bankman-Fried led exchange had quit on Tuesday. The poor results in internal review will lead to Binance scrapping the FTX acquisition deal. If Binance does back out of the FTX deal, Sam Bankman-Fried could be looking at alternate options for coming out of the liquidity crisis.
The post Scoop: FTX Legal Staff Quitting En Masse Amid Binance Due Diligence appeared first on CoinGape.
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