https://www.vice.com/en_us/article/93am9z/massive-crypto-exchange-ftx-faces-significant-liquidity-crunch-will-sell-to-binance

FTX.com, the second-largest cryptocurrency exchange in the world, announced a surprise tentative sale to its first-place competition Binance on Tuesday in order to solve a "significant liquidity crunch," which is an industry term for not having enough money on hand to conduct business normally. 

FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are two crypto-billionaires with a history. Binance was an early investor in FTX, but the relationship has grown rockier as Bankman-Fried's exchange and his personal political clout in the U.S. via donations have grown. FTX also bought the naming rights to the former American Airlines Arena in Miami, now the FTX Arena. Both exchanges are primarily for non-US investors, with FTX being headquartered in Hong Kong before moving to the Bahamas. Binance started in China and is registered in the Cayman Islands, with offices located around the world.