Clicky

  • About
  • Coincu
  • Hot topics
  • Random
Friday, September 22, 2023
CoinCu News
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • Video
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
No Result
View All Result
CoinCu News
No Result
View All Result
Home News

Binance CEO Implicitly Denounces FTX As “Unfair-Play” After Dumping 23 Million FTT

Foxy by Foxy
11 months ago
in News
Reading Time: 3 mins read
460
110
SHARES
3.7k
VIEWS
Share on Twitter

South Korea’s FIU Enhances Crypto Exchange Oversight From October 2024

Hong Kong’s JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud

Tensions between Binance and FTX suddenly “fired up” when 23 million FTT tokens were liquidated, causing the price to dump sharply. Soon after, the reason was revealed, when the Binance CEO shared that he would not support those who campaigned “against other industry players behind their backs”.
Binance CEO

As updated in a previous Coincu News article, 23 million tokens, or $580 million, were moved to the Binance market which may have resulted in a significant FTT sell-off by investors. The sale of FTT has been acknowledged by the CEO of Binance and this is only partial, implying that the sale will still continue.

After CZ’s move, FTT dropped more than 11% to $22. However, Caroline Ellison later tweeted that Alameda would be willing to buy all of Binance’s FTT for $22 to “minimize the impact on the market”.

FTT
24h FTT price chart. Source: Coincu.com

Late on November 6, Binance CEO Changpeng Zhao made a shocking statement that the exchange was the unit that sold FTT in the past. Specifically, when FTX acquired ownership of the exchange from Binance, Binance received $2.1 billion in the form of FTT and BUSD.

As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4

— CZ 🔶 Binance (@cz_binance) November 6, 2022

However, Binance decided to sell the entire amount of FTT and said it would be sold gradually so as not to have a strong impact on the market. CZ also confirmed that they always want cooperation and this is not an act of attacking the opponent.

CZ revealed more reasons for liquidating the FTT investment, implicitly accusing FTX of “playing bad” behind Binance’s back. FTT liquidation is a post-exit risk management measure that previously held FTT voluntarily. Earlier, Changpeng Zhao said in response to a Twitter user’s question that Binance’s FTT holdings were not due to the lockup period.

Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.

— CZ 🔶 Binance (@cz_binance) November 6, 2022

This is not the first time, the community has witnessed the confrontation between CZ and Sam. Previously, she had also given mixed views in helping crypto companies in difficulty during the liquidity crisis.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

CoinCu News

What is Derivatives?

CMC Report: DeFi, Memes, And AI Dominate H1 2023 Crypto Trends

Bankrupt FTX Confirms The Plan To Relaunch The Crypto Exchange, FTT Surges Over 12%

Tags: # Cryptocurrencies#MarketsBinanceBinance CEOBlockchainChangpeng ZhaocryptoCZdumpFTTFTXSam Bankman-Fried
Previous Post

Vietnam’s Company Is Promoting Blockchain Human Resources Training

Next Post

Could FTX Failing To Resist The Whale FTT Selloff?

Other Posts

South Korea's FIU Enhances Crypto Exchange Oversight From October 2024
News

South Korea’s FIU Enhances Crypto Exchange Oversight From October 2024

September 22, 2023
Coinbase Chief Legal Officer Paul Grewal Confirms Layer 2 Base Will Not Launch Tokens
News

Coinbase Chief Legal Officer Paul Grewal Confirms Layer 2 Base Will Not Launch Tokens

September 22, 2023
Hong Kong's JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud
News

Hong Kong’s JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud

September 22, 2023
Binance's Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt
News

Binance’s Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt

September 22, 2023
Justin Sun's Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto
News

Justin Sun’s Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

September 22, 2023
Bankman-Fried's Release Was Denied: Legal Showdown Looms In High-Profile Trial
News

Bankman-Fried’s Release Was Denied: Legal Showdown Looms In High-Profile Trial

September 22, 2023
Next Post
Could FTX Failing To Resist The Whale FTT Selloff ?

Could FTX Failing To Resist The Whale FTT Selloff?

  • Immutable-X-Suddenly-Increases-More-Than-35-percent-As-Whales-Show-Signs-Of-Accumulation

    Immutable X Suddenly Increases More Than 35% As Whales Show Signs Of Accumulation

    124 shares
    Share 50 Tweet 31
  • Coinbase Wallet Users: Beware of Scammers Exploiting Messaging Protocols for Phishing!

    142 shares
    Share 57 Tweet 36
  • Layer 1 Vara Network Will Be Supported By Coinbase

    112 shares
    Share 45 Tweet 28
  • Ethereum Network Gas Fee Now Soars To Over 310 Gwei

    93 shares
    Share 37 Tweet 23
  • Singapore Banks Crack Down On Money Laundering: $1.8 Billion Assets Seized

    93 shares
    Share 37 Tweet 23
South Korea's FIU Enhances Crypto Exchange Oversight From October 2024

South Korea’s FIU Enhances Crypto Exchange Oversight From October 2024

September 22, 2023
Coinbase Chief Legal Officer Paul Grewal Confirms Layer 2 Base Will Not Launch Tokens

Coinbase Chief Legal Officer Paul Grewal Confirms Layer 2 Base Will Not Launch Tokens

September 22, 2023
Hong Kong's JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud

Hong Kong’s JPEX Sees Significant Increase In Victims In HK$1.37 Billion Fraud

September 22, 2023
Sui Foundation Awards $300,000 In Grants to Shape Web3 Education

Sui Foundation Awards $300,000 In Grants to Shape Web3 Education

September 22, 2023
Binance's Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt

Binance’s Trading Volume Faces Challenge Due To Zero-Fee Promotion Halt

September 22, 2023
Justin Sun's Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

Justin Sun’s Huobi Bold Transformation: HTX Emerges As A Game-Changer In Crypto

September 22, 2023
Bankman-Fried's Release Was Denied: Legal Showdown Looms In High-Profile Trial

Bankman-Fried’s Release Was Denied: Legal Showdown Looms In High-Profile Trial

September 22, 2023
Binance And CEO Changpeng Zhao Officially File To Dismiss SEC Lawsuit

Binance And CEO Changpeng Zhao Officially File To Dismiss SEC Lawsuit

September 22, 2023
Linear Finance Reported The Attack Causes LUSD Volume Spike Up 7761%

Linear Finance Reported The Attack Causes LUSD Volume Spike Up 7761%

September 21, 2023
Celsius Now Reaches Agreement With Earn Ad Hoc Group And Simon Dixon

Celsius Now Reaches Agreement With Earn Ad Hoc Group And Simon Dixon

September 21, 2023
  • Live Prices
  • Binance
  • NFT
  • Solana
  • Metaverse
  • Polygon
  • Coinbase
  • Trending

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

No Result
View All Result
  • Coincu
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Metaverse News
    • NFTs News
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
  • Reviews
    • Exchange Reviews
    • DeFi Reviews
    • GameFi Reviews
    • Casino Reviews
    • Others Reviews
  • Recommended
    • Best Presale Cryptocurrencies
    • Best Bitcoin Casinos
    • Best Bitcoin Gambling Sites
    • Best Web3 Cryptocurrencies
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Video

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected].

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In