chirping Binance’s CEO Changpeng Zhao recently stated that Binance has decided to sell all FTT cryptocurrencies associated with FTX. Recent discoveries that have come to light.

CZ did not explain what these innovations were, preferring only to hint at them.

As part of Binance’s exit from FTX Equity last year, Binance received approximately $2.1 billion in USD cash (BUSD and FTT). Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books. 1/4

— CZ ? Binance (@cz_binance) November 6, 2022

This announcement confirms the rumors spread earlier.

He told CZ that the sale would take a few months due to limited liquidity, claiming that Binance would try to minimize the market impact of offloading its FTT cryptocurrency.

The head of Binance emphasized that the sale is not a move against its main competitor.

Binance received $2.1 billion in BUSD and FTT cryptocurrencies after selling its stake in rival FTX last year.

Binance’s sale announcement comes days after rumors swirled about Alameda Research’s financial troubles.

Trading company Binance has very close ties to FTX and FTT has the most exposure to cryptocurrency.

Carolyn Ellison, CEO of Alameda Research, told FTX that there is an additional $10 billion in unlisted assets.

Alameda Research has paid off its debt since last July, he said.

In a follow-up tweet, Ellison told Alameda that he would buy Binance’s FTT cryptocurrency at $22 if Binance wanted to reduce market exposure.

The price of FTT fell more than 11% after Binance’s managers announced the sale, but the cryptocurrency managed to pare losses within an hour of FTT.

For the record, Sam Trubacco previously stepped down as co-CEO of Alameda in late August and Ellison became the company’s sole CEO.

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