https://apnews.com/eca5ca1c772333f2cde093c98cd26bed

NEW YORK (AP) — The cryptocurrency exchange Binance said it plans to buy its rival FTX Trading, in what appears to be a bailout of FTX.

The owners of the two exchanges — Samuel Bankman-Fried of FTX and Changpeng Zhao of Binance — announced the deal on Twitter, but did not disclose any details. The deal was pending due diligence, Zhao said on Twitter.