Binance versus FTX

Recent court hearings disclosed that the bankrupt crypto exchange FTX utilized customer funds to repurchase its entire stake held by competitor Binance. The revelation came as part of ongoing investigations related to the trial of Sam Bankman-Fried, with the U.S. Department of Justice hiring an accounting professor to trace the funds between Alameda and FTX.

The transferred assets underwent a two-step process, initially being moved to a holding wallet before eventually reaching the centralised exchanges.

Lawsuit alleges market manipulation through CEO's tweets, impacting rival exchange's downfall in the crypto world.

In an article published yesterday, Forbes once again attacked the world's largest cryptocurrency exchange Binance for alleged misconduct in handling customer funds.

The solution will enable institutional investors to keep their collateral off the exchange.

Expert opinions on the future of crypto exchanges differed.

Binance hired global auditing firm Mazars to check its proof of reserves as it acquired Sakura Exchange BitCoin (SEBC) in Japan.

Some analysts feel that Binance’s relationship with its own token seems somewhat suspicious.

The collapse of FTX crypto exchange is brewing several reactions both within and outside the crypto industry, such as the recent probe on Binance.

It said that FTX did not solicit customers actively like Binance had.