Binance's Zhao flags possible US$1 billion for distressed assets

The Edge Markets LogoThe Edge Markets1w ago

Binance's Zhao flags possible US$1 billion for distressed assets - The Edge Markets

Quick Summary:

Binance did not have access to all of FTX’s books or trading history and could not trust the information it provided, Zhao said in the interview.

Zhao said a Genesis collapse might only impact some large institutional players and sought to downplay the potential damage to the industry as a whole.“There will be pain whenever one player goes down,” he said.

Binance is also in talks with Genesis Global, the US-based cryptocurrency broker which is seeking emergency funding to stay afloat, Zhao said.

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Category: InvestingFinance



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Published On: 2022-11-24 @ 12:33:14 (1 weeks ago)

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News ID: 1910166

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