Binance to Present Evidence to UK Lawmakers Regarding FTX Deal Negotiations and Trading FTT

According to Bloomberg, Binance said it will submit evidence to British lawmakers regarding its negotiations with FTX and the transaction of FTT as part of Binance’s testimony in the U.K. Parliament’s Treasury Committee’s inquiry into crypto assets. Harriett Baldwin, chairman of the Treasury Committee of the British Parliament, said the group wanted to receive evidence, including internal communications and records on the potential market consequences of Binance’s announcement of the FTT sell-off, as well as due diligence on a potential acquisition of FTX (after Binance Abandon the acquisition of FTX). Harriett Baldwin said at the hearing that Binance’s due diligence on FTX revealed a problem that set off a chain of events that led to FTX’s debacle.