I think the title is incorrect (someone else noted too!). It should be "Binance sends non-binding Letter of Intent [to buy] to FTX." Less sexy, more accurate.

I think the title is incorrect (someone else noted too!). It should be "Binance sends non-binding Letter of Intent [to buy] to FTX." Less sexy, more accurate. Also, extremely likely they are trying to consolidate power and they orchestrated this situation I'd say. This "smells" hostile takeover, but in a currency setting. a) They sold FTT in a "dumpy"/reevaluate its price way b) they were asked for a loan or partial buy to add influx c) they sent a "we will just buy you."d) They sent messages that would erode the trust to the eyes of the world. Rings a bell? (Spoiler: see Twitter.)