Tech

Binance withdraws from FTX purchase, Bitcoin price falls

Published

2 years ago

November 10, 2022

Rick D'Andrea

Binance has scrapped its letter of intent to buy rival crypto exchange FTX, sending the price of Bitcoin into a freefall.

The cryptocurrency dropped as much as 14 per cent, within minutes of the Binance-FTX news being revealed.

A spokesperson for Binance said in a statement: “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged U.S. agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.”

As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of https://t.co/FQ3MIG381f.
— Binance (@binance) November 9, 2022

FTX had been struggling with a surge in withdrawals that caused a “liquidity crunch”.

Concerns about FTX’s financial health reportedly triggered $6 billion worth of withdrawals in just three days.

This pressure came about due to Binance CEO Changpeng Zhao tweeting that Binance would sell its holdings of FTX’s digital token, known as FTT.

The token has lost over 70 per cent of its value since the start of the week.

FTX has also warned users not to withdraw monies at this stage, and are recommending people not make deposits.

Tech

OpenAI launches ChatGPT shopping search update

OpenAI’s ChatGPT now features ad-free shopping powered by GPT-4o, available to all users as a user-focused alternative to Google.

Published

7 hours ago

April 30, 2025

ticker NEWS

OpenAI’s ChatGPT now features ad-free shopping powered by GPT-4o, available to all users as a user-focused alternative to Google.

OpenAI has just rolled out powerful new shopping features as part of the latest ChatGPT search upgrade.

The new shopping capability is powered by GPT-4o and is now live for all ChatGPT users, including those on free plans and even those not logged in. Crucially, OpenAI says no ads, no commissions, and no bias, unlike traditional search engines.

OpenAI is clearly setting its sights on Google, offering a cleaner, user-first alternative to ad-driven results.

#OpenAI #ChatGPT #AIShopping #GoogleVsOpenAI #TechNews #GPT4o #OnlineShopping #SearchWar #AdFreeSearch #PersonalisedShopping

Tech

Amazon under fire for giving in to President Trump

Amazon faces criticism for concealing tariff impacts on its Haul site, prompting a political response from the White House and a follow-up from Trump to Bezos.

Published

8 hours ago

April 30, 2025

Ahron Young

Amazon faces criticism for concealing tariff impacts on its Haul site, prompting a political response from the White House and a follow-up from Trump to Bezos.

Amazon under fire for hiding tariff costs on Haul site. Amazon has announced it will not show how tariffs impact prices on its Haul platform, drawing backlash from the White House.

Press Secretary Karoline Leavitt called it a political move. President Trump personally contacted Jeff Bezos, initially criticising the decision but later commending Bezos for resolving the matter.

Planned tariff changes in May could have major impacts on Amazon and its rivals.

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Tech

Can Aplhabet’s Google keep up in the AI wars?

Alphabet’s Q1 results surpass expectations, driven by AI, YouTube, and Cloud growth, but faces regulatory risks and search revenue concerns; insights from analyst Brad Gastwirth.

Published

8 hours ago

April 30, 2025

Ahron Young

Alphabet’s Q1 results surpass expectations, driven by AI, YouTube, and Cloud growth, but faces regulatory risks and search revenue concerns; insights from analyst Brad Gastwirth.

Alphabet’s Q1 blowout: AI, YouTube and Cloud power growth. Alphabet, Google’s parent company, crushed expectations with its Q1 results thanks to booming AI initiatives, YouTube performance, and Cloud services.

However, looming regulatory risks and concerns about search revenue cannibalisation by AI remain.

Market analyst Brad Gastwirth weighs in:

Can Google Cloud catch up to AWS and Azure? Is Alphabet still a smart buy?

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