https://techcrunch.com/2022/11/07/heres-the-rundown-on-the-binance-and-ftx-fiasco/

The largest crypto exchange by volume (Binance) and the third largest crypto exchange by volume (FTX) faced off in recent days after Binance CEO Changpeng “CZ” Zhao tweeted that his exchange would slowly withdraw billions of its holdings in FTX’s native token, FTT, “due to recent revelations that have came to light.”

But first, let’s take a few steps back.