How crypto giant Binance came to bail out its biggest rival, FTX, days after their billionaire founders got into a very public spat on Twitter
fell Tuesday following Binance's announcement of the acquisition, as the deal stoked fears about the industry's state of liquidity. As of 12.36 p.m. ET, Bitcoin was down by around 6% over the last 24 hours while Ether was down around 10% in the same period, according toThe drop in crypto prices sent Zhao's net worth down 10.
5% in a day, to $16.4 billion on Wednesday according to theBinance referred to Zhao's tweets in response to a request from Insider for comment. FTX did not immediately respond to Insider's request for comment sent outside regular business hours, but referred Insider to Bankman-Fried's tweets for anSubscribe to push notifications
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