$FTT faces enormous pressure, but FTX plans on bailing out its own cryptocurrency, injected millions of dollars into platform
Alameda Research lead Caroline Elison publicly messaged CZ and told him to sell all of their FTT holdings for $22 in order to negate the negative effect on the asset's price. This is where the story begins.In the last 24 hours, a large amount of stablecoins from wallets on Huobi, Okx, Kucoin and other exchanges has been moved toward the exchange.
The most likely reason is to deal with massive withdrawals that have been caused after Binance declared that it will sell its FTT holdings.Technically, the massive run from FTX exchange is beneficial for Binance as it remains one of the biggest and most popular exchanges in the industry. Almost half a billion dollars has already flowed off the exchange. Since traders and investors have to use some platform for operating on the market, Binance will most likely be their choice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX Ventures' Amy Wu: VC deals during bull market lacked proper due diligenceCrypto VCs discuss investing in a bear market, contrasting it with investing when prices were booming.
Read more »
Binance Dumps FTX as FTT Loses 11% in 24 HoursFTX token down 11% as 23 million transferred to Binance for dump ftx ftt binance bnb $ftt $bnb
Read more »
Binance to Sell Rest of FTX Token Holdings as Alameda CEO Defends Firm's Financial Condition.cz_binance says binance is selling $FTT holdings in wake of coindesk scoop. Meanwhile, carolinecapital says her firm AlamedaResearch is stronger than balance sheet CoinDesk wrote about suggests and offered to buy Binance's holdings. by 0x_Tracy
Read more »
Scientists Say Stuff Might Have Been Happening Before the Big BangAs detailed in a new paper published this week in The Astrophysical Journal Letters, the universe may have begun with a 'Big Bounce' — and not a Big Bang.
Read more »
'The Conjuring' Spinoff 'The Crooked Man' Not Happening Says James WanTheConjuring spinoff based on the CrookedMan is not moving forward according to James Wan.
Read more »
Astros victory parade: City of Houston unveils details on 2022 World Series championship parade in honor of teamCity of Houston officials announced details of the Houston Astros victory parade happening Monday.
Read more »