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.

Tron founder Justin Sun looks to work on a “wholistic solution” to save FTX from the liquidity crunch.

Crypto financial services firm Galaxy Digital (GLXY.TO) said it has a $76.8 million exposure to troubled FTX when it reported its $68.1 million third-quarter loss on Wednesday.

This episode may result in further ramifications for the wider cryptocurrency market.

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.

As a result of this prudent risk management, we have no significant exposure to FTX or Alameda.

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.

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’