World's largest cryptocurrency exchange Binance to buy its rival FTX

Binance, the world's largest cryptocurrency exchange, has signed a non-binding letter of intent to acquire rival crypto exchange FTX. "This afternoon, FTX asked for our help. There's a significant liquidity crunch," Binance CEO Changpeng Zhao said, while FTX CEO Sam Bankman-Fried tweeted, "Things have come full circle." The deal was announced after a public feud between the two CEOs.