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Binance Will Not Acquire FTX, Exchange Confirms

Binance, the world’s largest crypto exchange, has backed out of its agreement to purchase FTX just one day after signing an agreement to rescue the company on Tuesday.

Binance said its decision was made in light of a review of FTX’s handling of customer deposits, alongside alleged US agency investigations against the firm.

The announcement, made on Wednesday, claimed that FTX’s financial position was beyond help – even from Binance.

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