### When Binance signed the non-binding LOI, nothing was certain. But, there was hope that Binance would come in and save the day, even for a short time.



SBF asked for help from Binance, but as Binance performed its due diligence, people’s worries came true. There were too many reasons for Binance not to buy FTX.COM. 

[![binance tweet](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/9810182c-582d-4dfc-e24a-6695c4716600/public)](https://twitter.com/binance/status/1590449161069268992?s=61&t=KRg-9Wcu8iraIaa7aD4KSA)

![tweet continuation of thread](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/cbb65746-5879-40fc-6427-b809232a7c00/public)


 Crypto prices are now spiraling down and looking for a new level of support. 

[![guardian tweet](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/822fb7a4-22c4-4f11-69ea-edbe98375700/public)](https://twitter.com/guardian/status/1590476984282275840?s=61&t=KRg-9Wcu8iraIaa7aD4KSA)

From the moment the news came out that Binance was considering buying FTX.COM to help out, we didn’t think the deal could come true. Here are some reasons we believe Binance simply could not buy FTX.COM: 

1. FTX.COM along with other SBF entities like Alameda Research are going to be investigated, sued, fined and who knows what else; 
2. If Alameda Research relied on the FTT token to provide value to its balance sheet, it’s quite likely that FTX.COM did the same thing, and with the FTT token crashing, there may be too big a hole to fill; 
3. If FTX.COM didn’t do anything shady, SBF wouldn’t need to sell. FTX.COM would at most need a bail-out in the form of a loan/advance. 
4. Liquidity issues can be solved by loans, a balance sheet issue would be solved by additional equity investments. Offering the entire company for sale under the guise of a ‘liquidity crunch’, is in itself suspicious, and we felt that it wouldn’t push through but we truly, truly hoped we were wrong. 

At any rate, calling a spade a spade is important and the capitulation in the market might just be signaling the beginning of the end of the bear market and crypto winter of 2022.

When Binance signed the non-binding LOI, nothing was certain. But, there was hope that Binance would come in and save the day, even for a short time.

Thu Nov 10 2022

Binance Reverses Course On FTX.COM

FTX Creditors File Class Action Against Bankruptcy Law Firm

Revolut to Distribute $1.2 Million in BONK

Starknet Foundation’s Plan to Distribute STRK Token

The Korea Times: South Korea to Remove ‘Unfit’ Crypto Exchanges

DecenTrader Founder Notes Bearish Signal

Revolut to Distribute $1.2 Million in BONK

Thu Nov 10 2022 Binance Reverses Course On FTX.COM

FTX Creditors File Class Action Against Bankruptcy Law Firm

Revolut to Distribute $1.2 Million in BONK

Starknet Foundation’s Plan to Distribute STRK Token

The Korea Times: South Korea to Remove ‘Unfit’ Crypto Exchanges

DecenTrader Founder Notes Bearish Signal

Revolut to Distribute $1.2 Million in BONK

Thu Nov 10 2022

Binance Reverses Course On FTX.COM