FTX Agrees to Sell Itself to Rival Binance Amid Liquidity Scare at Crypto Exchange

The situation worsened early Tuesday as FTX customers struggled to withdraw money from FTX. Dozens of customers complained in FTX’s Telegram group and on Twitter about difficulties they experienced. In his tweets announcing the deal with Binance, Bankman-Fried wrote that “FTX.us’s withdrawals are and have been live, is fully backed 1:1, and operating normally.”