On November 8, 2022, Binance CEO Changpeng Zhao (CZ) tweeted the following:
"This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire http://FTX.com
and help cover the liquidity crunch. We will be conducting a full DD in the coming day.
There is a lot to cover and will take some time. This is a highly dynamic situation, and we are assessing the situation in real time. Binance has the discretion to pull out from the deal at any time. We expect FTT to be highly volatile in the coming days as things develop.“
This market will resolve to “Yes” if Binance/CZ announces they will pull out of, or stop actively pursuing the FTX deal by December 31, 2022, 11:59:59 PM ET. Otherwise, this market will resolve to “No.”
If Binance/CZ announces definitively that the deal will go through before December 31, 2022, 11:59:59 PM ET, the market will immediately resolve to “No.”