I believe the title of this article is misleading—FTX.com was not technically bought out by Binance. Binance signed a non-binding letter of intent to buy FTX.com. Sometimes this is just a minor detail, but in this case it seems quite important. As of the time I am writing this comment (9 a.m. California time on November 9) Polymarket shows an 81% chance that Binance will pull out of this deal.
I am not an expert in crypto, but I think people should not assume that this acquisition will go through. It is possible that FTX will just become insolvent. See the relevant Polymarket:
I believe the title of this article is misleading—FTX.com was not technically bought out by Binance. Binance signed a non-binding letter of intent to buy FTX.com. Sometimes this is just a minor detail, but in this case it seems quite important. As of the time I am writing this comment (9 a.m. California time on November 9) Polymarket shows an 81% chance that Binance will pull out of this deal.
https://polymarket.com/market/will-binance-pull-out-of-their-ftx-deal
I am not an expert in crypto, but I think people should not assume that this acquisition will go through. It is possible that FTX will just become insolvent. See the relevant Polymarket:
https://polymarket.com/market/will-ftx-become-insolvent-by-eoy
Yes you’re right. Yesterday morning, the title was less inflammatory and a reasonably factual statement.
The post is less relevant and sliding off the FP, I’ll probably delete the entire post at some point (the comments will remain).