For most exchanges there are not many assets worth liquidating. The code and infra is standard, exchange A does not gain much from having exchange B's code. The

For most exchanges there are not many assets worth liquidating. The code and infra is standard, exchange A does not gain much from having exchange B's code. There are generally no special client relations you want to inherit. The offices are probably rented if not remote. The branding is valuable but adversarial to your own. Essentially an exchange can be summed up as total crypto assets minus total crypto liabilities. If that number is negative then the exchange is just gone, no point in buyout. The exception is binance which is basically AWS for crypto exchanges. https://cloud.binance.com/ https://cloud.binance.com/