Binance Strategy Chief Patrick Hillmann Said It Only Took Two Hours of Due Diligence on FTX to Find Out It Couldn't be Saved

Per CNBC

Binance Strategy Chief Patrick Hillmann said it only took him two hours of due diligence on FTX to determine that his company couldn't save the crypto exchange.

Hillmann: "It was like a bomb went off that place."

Hillmann described his call, saying people were crying and that Sam went completely silent as the "entire organization just fell to pieces." The Binance Strategy Chief also said they were always spending "more and more and more and more money," and he didn't understand where it came from.

Binance initially had 30 days to explore the deal, but it only took them one day to decide to exit.

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