On Nov 8, Binance the leading crypto exchange had signed a deal to acquire the insolvent FTX exchange, but the firm has now backed off from the deal. The reason that Binance stated was that FTX has mishandled its customer funds and alleged US agency’s investigations.
Now, after Binance called off the deal, FTX founder Sam Bankman-Fried is in a critical situation and is looking for all the possible options. However, following Binance’s back off, Justin Sun, Tron founder has shown interest in FTX partnership. Justin has claimed that his team is co-ordinating with Tron holders on FTX amidst liquidity crunch.