Binance, which is the world's largest cryptocurrency exchange by volume, denied it planned to deliberately sink rival FTX after being questioned by lawmakers in the U.K.
The exchange sent the Parliament's Treasury Committee a five-page document outlining the sequence of events that led to the FTX collapse on Wednesday after promising to do so at a hearing on Monday.
"It is clear from the above that the causes of the collapse of FTX were the financial irregularities and possible fraud initially reported in the CoinDesk article on 2 November," the document stated.
The Treasury Committee held a hearing on Monday to question officials from crypto companies in the aftermath of FTX's collapse, and Daniel Tinder, Binance's vice president of governmental affairs of Europe, offered to send the document after Member of Parliament Harriett Baldwin, who is chairwoman of the committee, asked if Binance CEO Changpeng Zhao "brought about the collapse of FTX?"
"But it must have been apparent when that decision was taken that was likely to cause the collapse of FTX, one of your major competitors," Baldwin said.
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