WTF just happened with FTX, SBF, and CZ.
that in selling off Binance’s equity share in FTX, his company earned back about $2.1 billion as denominated in Binance and FTT tokens—and that he was planning to “liquidate” Binance’s remaining FTT holdings.As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash . Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books.
leaked balance sheet from one of Sam Bankman-Fried’s separate ventures, the crypto-trading firm Alameda Research . CoinDesk had revealed that a large share of Alameda’s reported assets were made up of FTT tokens. That is, Alameda didn’t hold much of its assets in fiat currency or in a widely traded digital currency like Bitcoin—but in an. What’s more, the FTT holdings amounted to the equivalent of about $6.1 billion in Alameda assets, which is odd considering that FTX’s own website stated that there were only about $5.
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