Binance Walks Away From Deal to Buy FTX

The founder and CEO of crypto exchange FTX speaks at WSJ Tech Live about the company’s deal-making and focus on balance-sheet utilization. Photo: Nikki Ritcher for The Wall Street Journal

Crypto exchange Binance reversed course on a rescue offer for FTX, leaving the second-largest crypto exchange with an uncertain future.

Binance chose not to go ahead with the acquisition following a review of the company’s finances, the exchange said.

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