> One question that might be too early to answer is: Why was there a liquidity crunch in the first place? ... The simplest way to run the business is to take deposits from customers, buy crypto for the customers, keep everything segregated, and make money on commissions. ...
This is the only question, because it feeds into all of the other questions.
My prediction is that this deal isn't going anywhere. Where there's smoke, there's fire. And Binance is in no position to know how many skeletons are in the closets. The last thing any company wants in the current financial environment is big liabilities coming out of nowhere. And judging from the childish way in which FTX was run, there's skeletons o' plenty.
Binance wants nothing to do with the piece of hot garbage because it too is in the same position as FTX. The last thing Binance needs is an FTX landmine spooking customers and triggering Binance's own bank run.
The deal is going nowhere and FTX, along with its numbskull depositors, are dead meat.
This is the only question, because it feeds into all of the other questions.
My prediction is that this deal isn't going anywhere. Where there's smoke, there's fire. And Binance is in no position to know how many skeletons are in the closets. The last thing any company wants in the current financial environment is big liabilities coming out of nowhere. And judging from the childish way in which FTX was run, there's skeletons o' plenty.
Binance wants nothing to do with the piece of hot garbage because it too is in the same position as FTX. The last thing Binance needs is an FTX landmine spooking customers and triggering Binance's own bank run.
The deal is going nowhere and FTX, along with its numbskull depositors, are dead meat.