Is Binance CEO (CZ) REALLY going to dump $2.1 Billion worth of FTT Tokens?
In a recent tweet, CZ of Binance explained on Sunday how he will be liquidating all of his FTX (FTT) holdings because of “recent revelations” that have come to light.
CZ went on to state how Binance would liquidate the remaining funds in a way that would “minimize market impact”. Low liquidity will not make this easy and will likely result in a liquidation that could take months.
He further remarked, “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.”
Soon after his announcement, CZ admitted that the 22,999,999 FTT transferred to Binance on Nov. 5 was part of his exchange’s FTX token exit move.
WHAT’S CRYPTO BEEF?
Beef is when the world’s two biggest crypto exchange CEO’s threaten to dump each other’s native otken and create a massive crypto crash!
This is an ongoing story that we will continue to update with developments.
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