Binance Backs Out of Plans , To Acquire FTX.br Binance Backs Out of Plans , To Acquire FTX.br CNBC reports that FTX was rocked by br a sell-off that gained momentum... .br ... after Binance CEO Changpeng Zhao publicly announced that his company was selling its holdings in FTT, its competitor's native token.br FTX CEO Samuel Bankman-Fried reportedly went to venture capitalists and other investors in addition to Binance in an attempt to remedy liquidity issues. .br Zhao later revealed that the world's largest cryptocurrency firm and FTX came to a nonbinding agreement that would have helped FTX avert its crisis.br But CNBC reports that one day after reaching that deal, on Nov. 9, Binance backed out.br Zhao also reportedly sent a memo to employees on Nov.