Binance CEO CZ announced today that Binance will liquidate any remaining FTX (FTT) token holdings. Binance already took an exit from FTX equity last year. Reportedly, $584 Million worth of FTT token were transferred to Binance exchange and token price is already down by 10% in last 24 hrs.
Will Binance Dump More FTT?
As per CZ’s tweet, Binance will liquidate FTT token holding gradually to avoid any market impact. The complete liquidation may take few months as per available liquidity in the market. Binance CEO also clarified that this shall not be taken as an attack on competitor.
Though, as reported by WhaleAlert earlier today 22,999,999 FTT tokens worth nearly 584.8 Million USD were transferred from an unknown waller to Binance exchange. This is a sign that a massive sell off is already underway.
The post Breaking: Binance To Dump FTX (FTT) Token Holdings appeared first on CoinGape.
Source: https://coingape.com/breaking-binance-to-dump-ftx-ftt-token-holdings/