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Conversation

Michael Nielsen

@michael_nielsen

Curious what this means:

Quote Tweet

This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.

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Michael Nielsen

@michael_nielsen

The HN comments are interesting: news.ycombinator.com/item?id=335189

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Michael Nielsen

@michael_nielsen

Cf:

Quote Tweet

1) Hey all: I have a few announcements to make. Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for FTX.com (pending DD etc.).

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4:29 PM · Nov 8, 2022

Michael Nielsen

@michael_nielsen

Replying to

@michael_nielsen

One day earlier: twitter.com/SBF_FTX/status

This Tweet is unavailable.

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Replying to

@michael_nielsen

Quote Tweet

Now it looks like Binance engineered a run on FTX's / Alemeda's balance sheet in order to acquire its next largest competitor at a discount. twitter.com/cz_binance/sta

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