Business
Acquisitions
Circle Cancels Plans for SPAC Merger With Concord
  • Stablecoin issuer Circle and special purpose acquisition company (SPAC) Concord Acquisition have mutually ended their merger agreement.
  • The deal, which valued Circle at $9 billion, would have allowed the USDC issuer to become a publicly traded company.
December 5, 2022, 5:47 PM
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Binance Enters Japanese Market With SEBC Acquisition
  • The acquisition of FSA-regulated Sakura Exchange BitCoin marks Binance’s regulatory-compliant re-entry into the Japanese market.
  • The exchange was forced to limit its operations in Japan, and abandon its plans for a regional headquarters, when it received a warning from the FSA in 2018, and once again in 2021.
November 30, 2022, 12:22 PM
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Binance.US Reportedly Prepares New Bid for Voyager Digital
  • Popular cryptocurrency exchange Binance.US is reportedly preparing to once again make an offer for Voyager Digital after losing to FTX.US earlier this year.
  • Shortly after FTX.US declared bankruptcy, Voyager Digital revealed it still had not transferred any assets to the exchange, and began another round of bidding for its assets.
November 17, 2022, 11:50 AM
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Binance Pulls Out of Acquisition Deal, FTX Reportedly in Need of $8B
  • Shortly after completing its due diligence process, Binance announced it will no longer pursue the acquisition of FTX, and that the issues were beyond its ability to help.
  • Unnamed sourced told Bloomberg on Wednesday that FTX needed $8 billion in emergency funding, without which it could be forced to file for bankruptcy.
November 10, 2022, 10:48 AM
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Binance CEO Changpeng Zhao. CoinDesk

Nov 9, 2022
CZ: FTX Going Down is Not a “Win” for Binance
  • The CEO of Binance warned his staff that the FTX crisis was not good for anyone in the industry, and that regulators will likely “scrutinize exchanges even more” now.
  • Zhao also noted that the acquisition of FTX will attract more attention to Binance, and that the exchange needed to increase its “transparency, proof-of-reserves, insurance funds, etc.”

Binance CEO Changpeng Zhao. CoinDesk

Oct 28, 2022
Elon Musk Closes Twitter Deal, Fires Top Executives
  • Elon Musk has finally completed his $44 billion acquisition of Twitter, and has reportedly fired three of the top executives of the company on his first day.
  • Binance CEO Changpeng Zhao confirmed on Friday that the exchange had contributed $500 million to the Twitter deal.
Sep 13, 2022
BitGo Files $100M Lawsuit Against Galaxy Digital
  • The crypto custodian is seeking more than $100 million in damages from Galaxy Digital for the “intentional breach” of its $1.2 billion acquisition deal.
  • BitGo noted the complaint was filed under seal as to give Galaxy Digital the opportunity to redact “some of the allegations before the complaint becomes public”.
Aug 15, 2022
Galaxy Digital Cancels $1.2B BitGo Acquisition Plans
  • Mike Novogratz’s crypto investment company said it was terminating the acquisition deal as BitGo failed to provide audited financial statements for 2021.
  • Galaxy Digital is still looking to go public through a NASDAQ listing, and is currently awaiting approval from the SEC to reorganize as a Delaware-based company.
Aug 8, 2022
Crypto.com Hits Regulatory Milestone in Korea After Two Acquisitions
  • Crypto.com secured an Electronic Financial Transaction Act registration by acquiring PnLink, and a VASP registration from buying OK-BIT.
  • While it remains unknown if the exchange can offer its full suite of services in the country, the VASP registration allows it to provide crypto exchange and custody services.
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