Explainer: How Binance and FTX Sent Shockwaves Through the Crypto World
The saga between two of its top players, Binance and FTX, has upended the crypto ecosystem.
It's been a tumultuous few days in the largely unregulated cryptocurrency world, with mudslinging on Twitter, a shock exchange takeover bid and plunging token values. The world's biggest exchange, Binance Holdings Ltd., is now set to acquire troubled rival FTX.com in what would be a radical consolidation of power in the crypto world. The letter of intent is non-binding though, which sent jitters through the market and sparked…