Binance Could Back Out Of FTX Buyout, New Report Says; Bitcoin Breaks $17K Level

After less than a day of assessing the company, cryptocurrency exchange Binance is reportedly “very unlikely” to proceed with its proposed acquisition of struggling rival FTX.  Due diligence was a condition of Binance’s non-binding letter of intent for the acquisition, which was made public on Tuesday as FTX’s financial situation appeared to be spiraling out of hand.