FX.co ★ Bitcoin rises on rumors of Binance FTX rescue deal

Crypto exchange Binance has reached an agreement to buy rival FTX.com with undisclosed terms.

FTX CEO Sam Bankman-Fried told FTX.com that a strategic deal has been reached with Binance, according to the tweet.

Traders reacted positively to this news, and bitcoin went up by almost $1,000 in a few minutes:

"To protect users, we have signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch," Changpeng Zhao, CEO of Binance, tweeted.

According to the head of Binance, Changpeng Zhao, the deal involves the purchase of FTX, but they are still assessing the real problems with the liquidity crisis and retain the right to refuse the deal.