FTX approaches Kraken for potential rescue deal: Axios

Exchanges • November 10, 2022, 10:49AM EST
The Block

Quick Take

  • FTX has approached U.S.-based crypto exchange Kraken about a potential rescue deal, Axios reported.

FTX has approached U.S.-based crypto exchange Kraken about a potential rescue deal, Axios reported, citing two people familiar with the matter. 

Details of the talks are unclear, and they could continue or fall apart, Axios said, adding that FTX and Kraken both declined to comment.

The news comes after Binance backed out of a deal to buy FTX.

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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the University of Toronto, where he completed a specialist in political science, and an MBA from American University in Washington, D.C.

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