FTX approached crypto exchange OKX about deal before Binance agreed to possible takeover


FILE PHOTO FTX logo is seen in this illustration taken November 8 2022. REUTERSDado RuvicIllustration

FILE PHOTO: FTX logo is seen in this illustration taken, November 8, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - FTX CEO Sam Bankman-Fried approached cryptocurrency exchange OKX Monday morning about a deal before he announced Tuesday that Binance had signed a nonbinding agreement to acquire FTX in the face of an apparent liquidity crunch, an OKX spokesperson said.

Although Bankman-Fried did not name a dollar amount, OKX declined to move forward with a deal, expressing concern that the consolidation of exchanges would be a step backward for the industry, the spokesperson said.

Unlock 30% Savings on Ad-Free Access Now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


All Headlines:

Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a member? Log In