Binance’s surprise buyout of rival crypto exchange FTX has tanked the price of bitcoin, drawn intense criticism from some corners of the crypto industry and is already prompting antitrust concerns.
The mega-deal, which was announced by Binance chief executive Changpeng ‘CZ’ Zhao and FTX boss Sam Bankman-Fried on social media on 8 November, saw bitcoin fall as low as $17,744 before stabilising at a little over $18,000.
