Today’s crypto prices, Binance is set to acquire FTX – it was the bombshell news that hit the cryptoverse a while ago. Changpeng Zhao – or CZ as he’s known – tweeted that Binance had been asked for help by FTX as it tried to stop leaks on the exchange after Coindesk saw documents earlier this week that indicated that Alameda’s sister company held FTT tokens and not much else on its balance sheet. Fears that FTX was bankrupt began to swirl.

Sam Bankman-Fried, the owner of FTX and Alameda, initially dismissed claims that FTX was bankrupt. On November 7, he tweeted: That was followed by Alameda CEO Caroline Ellison, saying the company would take FTX tokens off Binance for $22 each.
However, attempts to put a floor under the price failed, as the price dropped below today’s bid price. That seems to have caused a cash crunch in the SBF empire, forcing the founder to reach out to rival exchanges for help, if CZ’s tweet is a true rendering of recent developments. Whatever the actual truth of the matter, CZ’s tweet caused a sharp reversal in the crypto’s price, however, this was short-lived and the price continued to sell off again.
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Crypto Price Today

 
Binance announced that it intended to sell its FTT holdings, though it claimed the move was unrelated to balance sheet issues. That began a historic run on the exchange, with the price of the FTT token plummeting. Earlier today, the FTX Token was trading at $14.58, down 30%. Now, after a brief rally following the news, FTT has continued its decline, dropping more than 57% today with the token now trading below $10.

Bitcoin and Ethereum post major losses




At the time of writing, Bitcoin is down 9.1% to trade at $18,959, and Ethereum has followed suit, losing more than 12% of its value since yesterday. BNB, unsurprisingly, is the main beneficiary. The exchange coin is up 0.5% to $336 while most altcoins are selling off. Both FTT and BNB provide discounts and other benefits to traders on their respective exchanges.
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BNB is very volatile and this coin traders can make a profit

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