Crypto exchange Binance has withdrawn a non-binding offer to buy rival digital firm FTX after conducting a thorough investigation with due diligence. Binance believes FTX’s problems are too grave and that it lacks the ability to resurrect the failing company. “In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help,” Binance stated. Meanwhile, Sam Bankman-Fried, founder and CEO of FTX, notified investors today that the company will try to raise capital on its own in the coming week.
