- Binance is liquidating $500 million worth of FTX tokens (FTT).
- Changpeng Zhao claims Sam Bankman-Fried and the rest of FTX are lobbying against other crypto players in secret.
- FTX is witnessing an exodus of users following rumors of exchange instability.
Binance CEO Changpeng Zhao did not mince his words on Twitter as he explained why the exchange had liquidated $500 million worth of FTX tokens (FTT). According to his tweet, he and the rest of Binance will not be supporting anyone who “lobby against others behind their backs.”
In essence, CZ is claiming that FTX CEO Sam Bankman-Fried (SBF) is backstabbing other crypto players. There was no specific detail about which part CZ is referring to, although SBF is known to be active in working with regulators on behalf of the crypto industry. If what CZ says has merit, then it shows that SBF’s intention has been selfish in nature all along.
SBF has yet to comment on CZ’s allegation — at least not directly. In a thread, SBF expressed thanks to those who remain committed to FTX as the crypto exchange is struggling against considerable liquidation amid a massive exodus of users. In detail, there are rumors saying that FTX has discrepancies with its balance sheet.
To be fair, there is no sufficient evidence to support the claim of CZ regarding FTX. However, many people are already siding with CZ, especially those who are worried about their assets. Some even commented, saying “this market can’t have another LUNA.”
Recommended News :
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.