While flagging efforts to remain above board in the United Kingdom, Binance announced it hired a new director. In a LinkedIn post, Binance Regional Manager of Europe and the UK Ilir Laro said his company picked Nish Patel to be a director. "Our main focus will be to register and comply with the UK's Financial Conduct Authority to operate a regulated crypto-asset business in the UK," Laro wrote. 

FTX has approached U.S.-based crypto exchange Kraken about a potential rescue deal, Axios reported, citing two people familiar with the matter.

Binance, the leading crypto exchange recently called off its partnership deal with bankrupt FTX after the firm learnt that FTX has mishandled its customer funds and alleged US agency’s investigations.

Binance will not go ahead with the proposed deal to acquire FTX unless the US-based exchange partner FTX. US is part of the deal, according to a source with knowledge of the matter and text conversations reviewed by Blockworks.

Sequoia Capital on Wednesday assured investors that the company had limited exposure to FTX and will pull out of its investment in the troubled cryptocurrency exhange, after an FTX deal with peer Binance collapsed.

In a bid to avoid a bank run-like situation, major exchanges have made announcements to calm down users. Earlier today, Coinbase CEO Brian Armstrong tweeted a detailed thread outlining the steps taken by his company to ensure the security of user funds.

In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago.

The world’s largest crypto exchange by volume, Binance, said it would walk away from a deal with the third largest crypto exchange by volume, FTX.

Backing out would be one more stunning development in the collapse of Sam Bankman-Fried’s crypto empire.

Changpeng Zhao tells employees that the bailout of its chief rival is ‘not a win’