Crypto Exchange Binance Dumping All FTX Tokens on Its Books — CEO Cites ‘Recent Revelations’ – Altcoins Bitcoin News

Binance is dumping its FTX token (FTT) holdings “Based on new evidence,” CEO. Changpeng Zhao confirmed. “Regarding any speculation as to whether this is a move to a competitor, it is not,” he added. “It’s our business that every time a project fails it hurts every user and every platform.”

Binance cancels all FTX tokens on its books

The CEO of global cryptocurrency exchange Binance, Changpeng Zhao (CZ), announced on Twitter Sunday that his exchange is removing all FTX tokens (FTT) from its books.

The executive explained that Binance has received $2.1 billion in BUSD (Binance’s stablecoin) and FTT since exiting FTX equity last year. Binance is a leading FTX investor. “Based on new evidence that has come to light, we have decided to cancel the remaining FTTs on our books,” Zhao wrote.

Crypto Exchange Binance Closes FTX Token Holdings - CEO Shares 'New Evidence'

In subsequent tweets, the Binance manager added: “We will try to do so in a way to minimize the impact of the market. Due to the market conditions and the small size, we think it will take a few months to to finish. He added. “We often hold signs for a long time. And we have held this brand for this long. “

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CZ is also defined as:

Completing our FTT is risk management after graduation, learn from LUNA. We offer support before, but we don’t pretend to love after a divorce. We are not against anyone. But we don’t support people who attack other professional players behind their backs. Earlier.

Noting that “Binance will always strengthen cooperation between industry players,” the CEO said the sale was not “a move against a competitor” as some thought. He continued: “It is our business that every time a project fails it hurts every user and every platform.”

Shortly after his announcement, CZ admitted that 22,999,999 FTT had been transferred to Binance on Nov.

Crypto Exchange Binance Closes FTX Token Holdings - CEO Shares 'New Evidence'

Answer by Sam Bankman-Fried

Commenting on Binance CEO’s tweet about FTT, FTX CEO Sam Bankman-Fried writing: “I was going to write another level, but I took a breath and reminded myself of something that we do well to remember: we are all in this, and I want the best in the ‘everyone’ is the business forward. He continued:

Because I respect the people who have worked to build the industry as we see it today, whether they reciprocate or not, and whether we use different methods. With CZ.

FTX published a document called “Possible Digital Asset Industry Standards” on October 19 that received a lot of backlash from the crypto industry. Bankman-Fried, who is a mega-donor to the Democratic Party, is under fire for his controversial comments about the decentralized finance protocol (defi). Meanwhile, CZ is a big supporter, saying before: “Binance is investing heavily in defi.”

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In addition, some believe that the FTT sale is also related to the financial health of Alameda Research, a large trading company founded by Bankman-Fried. On Friday, Dirty Bubble Media posted a Article explaining why Alameda Research’s funding appears to “rest on the same project that destroyed the Celsius Network.” The article describes a leaked balance sheet.

Words in this story

Binance, Binance Dumps FTT, Binance Dumps FTX, Binance Exits FTX, Binance Sells All FTX, Changpeng Zhoa, Crypto Fix, CZ, FTX Token, Lobby, Sam Bankman-Fried

What do you think about Binance dumping its FTX tokens? Tell us in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open-source systems, web solutions and the intersection between economics and cryptography.

Photographs: Shutterstock, Pixabay, Wiki Commons

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