What Happened to FTX? Here’s What to Know. Binance, the world’s largest cryptocurrency exchange, was set to bail out FTX. Then it pulled out of the deal.
Binance to Buy FTX in Megadeal of Crypto Exchanges Binance, the world’s largest cryptocurrency exchange, said it reached a deal to buy one of its biggest rivals, FTX, amid fears that the crypto industry could be entering another meltdown.