CZ signaled that he isnt interested in an offer from Alameda to buy out Binances FTX Tokens saying theyd rather stay in the free market. 3086 Total views 19 Total shares Listen to article 0:00 News Changpeng CZ Zhao, CEO of cryptocurrency exchange Binance, appears disinterested in Alameda Researchs offer to buy out the crypto exchanges FTX Token (FTT) holdings.
Zhao responded to a question on Nov. 7 on Twitter asking if he would take up theoffer by Alameda Research CEO Caroline Ellison to buy Binances FTT holdings for $22 per token. Zhao said:I think we will stay in the free market.
The offer from Ellison came after Zhao said Binance would be liquidating its FTT position due to post-exit risk management as part of learning from LUNA, on Nov. 6.
At the time, Zhao said he would try to sell the tokens in a way that minimizes market impact and said the token sales would take a few months to complete due to it holding around $2.1 billion United States dollar equivalent in the exchanges stablecoin Binance USD (BUSD) and FTT.
Binance declined to comment on the matter.
Related: SBF has been a significant donor in the US midterm elections
Meanwhile, there have been concerns that rumors around Alamedas finances, Binances impending FTT liquidation and Zhaos comments could be the possible catalyst for major withdrawals from FTX, with reported data from Nansen showing $451 million worth of stablecoins leaving the exchange.
Users took to Twitter on Nov. 7 complaining of long wait times with FTX addressing the complaints, assuring users everything was running smoothly.
Bankman-Fried also pointed the finger at an unnamed competitor on Nov. 7, saying a competitor is trying to go after the cryptocurrency exchange with false rumors.
Zhao has reiterated that hes not in a fight with FTX or Bankman-Fried, tweeting on Nov. 7, I spend my energy building, not fighting and attempted to dispel what he called conspiracy theories that he somehow orchestrated this whole thing.
Analysis by Cointelegraph on Nov. 7 pointed to a bearish pattern that could see FTT sink by 30% and early on Nov. 8, the FTT price dove to around $15.40 from $22 and is currently down 29.5% in 24 hours at the time of writing. #Business #Changpeng Zhao #Cryptocurrency Exchange #Binance #Sam Bankman-Fried #Exchanges #FTX Token Related News How to get a job in the Metaverse and Web3 What Musks Twitter acquisition could mean for social media crypto adoption Binance to liquidate its entire FTX Token holdings after recent revelations FTX Token price risks 30% plunge as a 23M FTT part moves to Binance FTX addresses user withdrawal complaints amid major token movement
