Biggest Failed Crypto Acquisitions 🧵
Nov 2022,
FTX starts collapsing.
SBF reaches out to CZ for help.
Then Binance announces:
“We might buy FTX.”
For a few hours, people thought that FTX was saved.
People stopped selling FTX tokens.
Users get hope again.
Then Binance starts checking the books.
They found:
Huge hole in the balance sheet.
Customer funds allegedly misused.
investigations already happening.
48 hours later:
Binance walks away.
Days later, FTX files for bankruptcy.
Then SBF goes to jail.
But it gets worse.
FTX was also trying to buy Voyager before collapsing.
The moment FTX died,