After Binance CEO CZ’s revealing the liquidation decision of its FTX Token, FTX CEO Sam “SBF” Bankman-Fried also shared via a social media post effort to reduce rumors of conflict between the major crypto exchanges.

Specifically, as revealed via a Nov. 8 Twitter thread from Bankman-Fried, FTX has “come to an agreement on a strategic transaction” with Binance, after attempts have been made to clear out its withdrawal backlog. 

Per SBF, he posed in iniquity towards Binance to give out a helping hand, with a goal of “clearing out liquidity crunches” and cover assets on a 1:1 basis.

“I know that there have been rumors in media of conflict between our two exchanges, however Binance has shown time and again that they are committed to a more decentralized global economy while working to improve industry relations with regulators. We are in the best of hands.” SBF further remarked. 

CZ reportedly made his own remarks via Twitter, claiming that FTX touched Binance for assistance on Nov. 8 as a response to a “significant liquidity crunch.” 

As disclosed by the current Heaed of Binance, the transaction to which SBF mentioned was a non-binding letter of intent for the top-tier exchange to carry out the acquisition of FTX. 

Zhao also stated that Binance was “assessing the situation in real time” and had the ability “to pull out from the deal at any time.”

The announcement of the tentative agreement between the top high-profile crypto entities surfaced only one day following SBF sharing on Twitter that FTX and its assets were “fine” and dismissed reports of liquidity problems as “false rumors.” 

The FTX CEO also urged CZ to have the exchanges collaborate “for the ecosystem,” but a few of the Binance CEO’s social media responses gave hints that he may not have been throwing his weight behind the agreement – Zhao hinted Binance would “stay in the free market” as opposed to having Alameda Research purchase the exchange’s FTT holdings.