Binance said on Twitter at 5:00 Beijing time today that due to FTX’s improper handling of customer funds and being investigated by U.S. regulators, Binance absolutely abandoned the acquisition of FTX. Binance stated that it initially hoped to provide liquidity to FTX, but after investigation, it was found that the problem was beyond Binance's control. Foresight News previously reported that CoinDesk, citing people familiar with the matter, reported that Binance had internally strongly opposed the acquisition of FTX after reviewing FTX data. Later, a reporter from Fox Business News tweeted at around 0:00 Beijing time today that Changpeng Zhao said that due diligence had just started for 36 hours and no final decision had been made.