Binance’s Withdrawn Proposal To Buy Out FTX Is Suspicious – Sen. Ted Cruz
The American senator and politician, Ted Cruz, has expressed what he thinks of Binance’s now revoked offer to acquire the bankrupt FTX exchange. Also, he made public his unwavering commitment to the expansion of bitcoin mining.
Binance’s Withdrawn Public Proposal To FTX Ought to be Examined
Rafael Edward Cruz, an American senator and politician popularly known as Ted Cruz, has expressed his opinion of Binance’s offer to the FTX exchange as strange.
At the just concluded blockchain assembly in Austin, Texas, senator Cruz expressed the need for a careful examination of the event.
Following the announcement of the fall of FTX, one of the top crypto exchanges in the world, Binance, the largest cryptocurrency exchange, quickly made an offer to acquire FTX.
The prompt proposal had been described by stakeholders and spectators as a window for FTX to survive the brutal fall.
However, it came as a shock when, not long after, Binance announced that it was going to renege on the deal.
Senator Ted Cruz has described the actions of Binance as shady and “at minimum ill intent”. He has also called for some sort of careful perusal of the occurrence, and plans are already underway.
Ted Cruz Believes That FTX Is Culpable
Senator Ted, when asked of his opinion about the culpability of FTX, answered that it is very clear that a careful examination of the first report indicates that investors had suffered huge losses as a result of dishonest handling of funds and even potentially, fraud.
However, the senator stated that time will reveal whether these activities were criminal and whether the company will be legally responsible for its actions.
Also, given the current situation of the crypto market, several opinions have been released by experts, and most, if not all, of them, suggest the need for some sort of uniform regulation for the cryptocurrency industry.
Senator Ted however has explained the need to exercise a great deal of caution. He expressed his fear and implored that the regulators be really careful in their quest for appropriate administration of regulations.
According to him, any slightly wrong move could potentially lead to the destruction of the crypto industry.
It appears that this period is very delicate in the industry, and Cruz stated the need to think things through and only do what is necessary.
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