Cryptocurrency exchange FTX faced a massive banking panic as over the last 72 hours around $6 billion have been withdrawn from the exchange, Reuters has learned, citing a message to staff sent by FTX CEO Sam Bankman-Fried.
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FTX boss added that although the exchange, on average, sees tens of millions of dollars of net inflows and outflows, things were different this weekend:
"In the last 72 hours, we've had roughly $6b of net withdrawals from FTX," he wrote, adding that withdrawals at FTX's main unit, FTX.com, are "effectively paused," an issue that would be resolved in "the near future."
He declined to elaborate on a strategic transaction with Binance, saying that most of the details of the deal "still aren't hashed out."
The news comes shortly after Binance CEO, Changpeng Zhao, announced that his exchange has signed a non-binding letter of intent to acquire FTX for an undisclosed price.
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