TechFlow news — Binance has denied allegations from UK lawmakers accusing it of deliberately bringing down FTX. In a five-page document submitted to the UK Parliament's Treasury Committee, Binance outlined a series of events leading to FTX's collapse.
Binance stated that the initial catalyst was a CoinDesk article revealing that a significant portion of Alameda Research’s assets consisted of FTT tokens, adding, “It is clear that the cause of FTX’s collapse was the financial misconduct and potential fraud initially reported in CoinDesk’s article on November 2.”
According to prior Bloomberg reports, Binance was scheduled to testify before the UK Parliament's Treasury Committee on November 14 during its investigation into crypto assets, providing evidence regarding discussions with FTX.com during merger negotiations and explaining its decision-making process around the sale of FTT. The investigative panel expressed interest in receiving evidence showing whether Binance conducted due diligence on the potential acquisition of FTX and whether it was aware of the potential consequences resulting from the FTT sell-off.Original link
