READ ALL ABOUT IT! Binance Acquires FTX and more!
Trade BTC, ETH, AVAX and other top cryptocurrencies with up to 30x leverage directly from your wallet (& save on fees using our link HERE)
——-DeFi Slate Fam:
The markets are in full soap-opera mode. Drama amongst the centralized powers are throwing coins into a tizzy. FTT, the FTX exchange token, is the token in question as it collateralizes most loans provided to Alameda Research – the sister company of FTX. Markets are taking offense to FTX minting their own token and subsequently using it as collateral for fiat loans. CZ of Binance took particular exception to this and proceeded to market dump Binance’s entire 500M dollar bag of FTT. Are we to think Binance has not taken out loans against its own BNB token?
As a result of recent revelations, Binance has signed a Letter of Intent to purchase the major US-based exchange FTX. In a series of tweets, SBF and CZ both announced the acquisition to conclude after Binance performs due diligence. The acquisition of FTX conglomerates power into a single entity posing a greater centralization risk than ever before. Ultimately time will tell whether FTX capitulation is a bottom signal. At the current moment permissionless, trustless, decentralized finance looks stronger than ever.
Cheers
Rob
???? Together with:
Composable leverage protocol. Open a Credit Account & get 15%+ with DeFi-native leverage; or earn passive lending APY with no stress ???? Here
It’s officially time to start testing the first version of Synonym. Break things, provide feedback, and of course, get rewarded.???????? Here
Off-chain governance. On-chain execution. Optimistically execute governance transactions on-chain where your community can approve them. Check it out Here!
The Rollup Report ????????????
⚠️ DISCLAIMER: Investing in cryptocurrency and DeFi platforms comes with inherent risks including technical risk, human error, platform failure and more. At certain points throughout this post, we might get a commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.
???? Check Us Out On Twitter!
???? Subscribe to our YouTube channel!
???????? Join the The Rollup Discord Server!
