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How are major crypto tokens reacting after reports of Binance acquiring FTX


Most crypto prices rallied on Tuesday as news broke that Binance, the world’s largest cryptocurrency exchange, signed a letter of intent to acquire rival FTX, but prices remained mostly lower on Monday.

Sam Bankman-Fried, CEO and Founder of FTX Sam Bankman-Fried tweeted on Tuesday that the exchange has entered into a strategic transaction with Binance, pending due diligence.

Here’s how crypto prices are performing after the news was announced, according to CoinDesk data:

Bitcoin
BTCUSD,
-8.39%

: Priced around $19,350 before announcement. Bitcoin price is currently at $20,590.30, a change of -0.66% over the last 24 hours.

Ethereum
ETHE,
-12.30%

: The price of Ethereum was around $1,438 prior to the announcement and currently sits at $1,562. This is a -1.54% change over the last 24 hours.

Binance Coin: Binance Coin price is $380.77, 13.49% change in the last 24 hours. The pre-announced price is $323.

Binance USD: The price of Binance USD, which is a stablecoin, was $1.00, -0.18% change in the last 24 hours. Prices have remained relatively stable since the announcement at 0.99.

Dogecoin
DOGEUSD,
-16.45%

: Dogecoin price has increased from 0.099 to 0.1088 since the announcement. Dogecoin price change -5.99% in the last 24 hours.

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