Binance Is Selling All FTX (FTT) Tokens. Here’s Why

Nov 07,2022
Binance Is Selling All FTX (FTT) Tokens. Here’s Why

Zhao Changpeng, CEO of Binance, recentlyGo to TwitterIt was announced that the enterprise decided to sell all its FTX (FTT) tokens, mainly because of "recently disclosed information"

The publicity verified thatRumorEarly today, it gradually spread widely

Zhao said that because of the limited liquidity, this sale will take many months, and said that Binance will try to minimize the market impact

President Binance emphasizes that this is not a measure for its core competitors. After selling the shares of its competitor FTX last year, the trading center won the use value of $2.1 billion of Binance USD (BUSD) and FTT

A few days ago, rumors about Alameda's scientific research on corporate financial problems came. According to a recent report by a digital currency news media, this online trading platform closely related to FTX has a great openness to FTT tokens

Caroline Ellison, CEO of Alameda Research, claimed that FTX also had $10 billion of assets unlisted

In addition, she claimed that the Alameda Research Center had already repaid the loan since July

In a subsequent tweet, Ellison claimed that if the trading center wanted to minimize the market impact, Alameda would "happily purchase" the FTT token of Binance for $22

After Mr. Zhang's announcement, the FTT price plummeted by more than 11%, but it succeeded in reducing the damage in less than an hour.

imageReported by:Sam Trabucco resigned as the co CEO of Alameda in the middle and late August, and Ellison became the sole CEO of the company.