Binance could attract antitrust regulators’ attention, report says.
November 9, 2022
Wall Street firm Bernstein said in a research report that Binance would have a more than 80% share of the global crypto market if the FTX deal goes through.
According to the report, this could attract the attention of antitrust regulators.
“All eyes are immediately focused on the probability of the deal, and any likelihood of it not completing is bearish for crypto markets,” Wall Street analysts wrote.
If there’s a hole in FTX’s balance sheet, “Binance would acquire FTX as a fire sale, by making whole the customers,” the note said.
Investors may also raise legal questions about FTX’s conduct.
Binance had earlier withdrawn support for won trading pairs, payment options, and P2P merchant applications in South Korea.
The entire crypto market cap is currently at $879.31 billion, 11% down in 24 hrs.