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Crypto Update: How major crypto tokens are reacting after Binance’s intent to acquire FTX


Most crypto prices jumped Tuesday on news that Binance, the largest crypto exchange in the world, has signed a letter of intent to acquire rival FTX, but prices are still mostly lower than on Monday.

Sam Bankman-Fried, chief executive 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 is how crypto prices are doing after the news was announed, according to CoinDesk data:


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


: Price of Ethereum was around $1,438 before the announcement, and is currently at $1,562. This is a change of -1.54% over the past 24 hours.

Binance Coin: The Binance Coin price is $380.77, a change of 13.49% over the past 24 hours. Price before the announcement was $323.

Binance USD: The Binance USD price, which is a stablecoin, is $1.00, a change of -0.18% over the past 24 hours. The price has remained relatively stable since the announcement at 0.99.


: The price of Dogecoin has gone from 0.099 to 0.1088 since the announcement. The Dogecoin price is a change of -5.99% over the past 24 hours.

The Ratings Game: Coinbase stock plunges on news of Binance-FTX merger, which sets up ‘seismic’ change in competition

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