Deals
Binance’s FTX Takeover Risks Global Antitrust Backlash
- Legal experts see worldwide scrutiny of crypto-exchange deal
- So-called failing firm defense could be used as legal argument
This article is for subscribers only.
The ambitions of Binance Holdings Ltd., the world’s biggest crypto exchange, to pull off the audacious takeover of its embattled rival FTX.com could partly hinge on the scrutiny of global antitrust regulators.
Binance announced it’s in the process of acquiring its rival FTX in what would be a radical consolidation of power in the crypto world. Although the letter of intent made public yesterday is non-binding, the potential deal has already rung alarm bells for legal experts as combining crypto’s two top players could dent competition in the ecosystem.