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FTX Approached OKX for Deal before Announcing Binance Possible Takeover
FTX CEO Sam Bankman-Fried initially approached Seychelles-based crypto company OKX a day before it announced its new agreement with Binance. According to an OKX spokesperson, SBF discussed with OKX on Monday about a deal before the news of Binance acquiring FTX came to the limelight.
FTX Met with OKX before Announcing Binance’s Takeover
SBF announced its new relationship with Binance, noting that the company has signed a non-binding agreement to acquire FTX. The news came as FTX faced an apparent liquidity crunch following the collapse of its native token, FTT. The OKX representative revealed that the company turned down the deal when approached by the FTX CEO. Basically, OKX was concerned about the consolidation of exchanges, saying it would be a step backward for the industry. At the time of the discussion between FTX and OKX, SBF did not specify the worth of the transaction.
A senior executive at
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