Binance and FTX deal falling apart? Fallout for games and esports

In less than a day, Binance might be reneging on its offer to acquire the assets of fellow cryptocurrency exchange FTX.

According to a report from the Wall Street Journal, this is a result of Binance’s due-dilligence investigation into FTX. In particular, FTX’s relatively small workforce compared to Binance’s (400 employees versus 7,000-plus respectively) raised red flags. Binance was concerned about the FTX’s ability to detect fraud.