What is Going on With Crypto Exchanges: FTX, COIN, BINANCE
If you’re here, you’ve probably seen the news. Cryptocurrency exchange, FTX, saw $6,000,000,000 of withdrawals in the past 72 hours.
Subsequently, Binance, another crypto exchange, said it had made a deal to purchase FTX. Whew. That’s a lot to take in. So, what the heck is going on in the crypto world?
Well, I’m glad you asked anon. This (mass withdrawals) also happened to Coinbase early this year, as most cryptocurrencies have taken a beating. Hence the term ‘crypto winter.’
So, what happens if Binance acquires FTX? Well, not much. Binance is just another crypto exchange that promises the same things that Coinbase did and FTX.
