The slashdot piece just links to the real article: https://techcrunch.com/2022/11/08/binance-signs-letter-of-intent-to-acquire-ftx/ https://techcrunch.com/2022

The slashdot piece just links to the real article: https://techcrunch.com/2022/11/08/binance-signs-letter-of-intent-to-acquire-ftx/ https://techcrunch.com/2022/11/08/binance-signs-letter-of-in... > Zhao (pictured above) said Binance reached the decision after FTX asked the crypto behemoth for help. “To protect users, we signed a non-binding LOI, intending to fully acquire FTX and help cover the liquidity crunch. We will be conducting a full DD in the coming days,” he said in a tweet. This appears to be an admission of running a fractional reserve. Otherwise where could a "liquidity crunch" come from. Hilariously, this is the origin story of Bitcoin. Can't trust banks. Create electronic cash. Users are clueless about what to do with the cryptographic material needed to secure electronic cash. Users park funds at exchange. Exchange operator is a criminal who embezzles the money away, or an incompetent boob who just loses it. Exchange freezes withdrawals, temporarily at first, while continuing to accept deposits. Mayhem ensues. Rinse and repeat. The entire FTX team belongs behind bars. The VC team that backed this hair-brained venture deserves everything coming to them.