Binance Will Submit Evidence Regarding FTX and FTT Transactions
Binance has announced that the evidence will be provided to UK lawmakers regarding discussions about FTX.com while the two were in deal talks, as well as its decision-making regarding the sale of FTX.com’s native token FTT.
Binance‘s vice president of government affairs in Europe, Mr. Daniel Trinder, stated that the information would be provided to members of the UK Parliament’s Treasury Committee as part of the crypto exchange’s appearance as a witness in a crypto asset inquiry.
Harriett Baldwin, chair of the committee, stated that the group expects to receive evidence, including internal correspondence and records, about the potential market consequences of Binance’s announced divestment of FTT, as well as due diligence on the potential acquisition of FTX.
On Monday, Mr. Trinder was grilled by lawmakers about the firm’s decision to announce a planned sale of more than $500 million in FTT on November 6 – a move that caused trading volumes for the token to spike to their highest in more than a year. It was also a part of the chain of events that led to FTX declaring bankruptcy.
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