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Binance to Sell Rest of FTX Token Holdings as Alameda CEO Defends Firm's Financial Condition

Tracy Wang, Oliver Knight - CoinDesk
2022-11-07 00:21
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Binance’s CEO, responding to a CoinDesk scoop about trading firm Alameda Research’s balance sheet, tweeted Sunday that he will sell the remaining FTT tokens held on his books that he took on as part of his exit from Alameda sister company FTX last year.
Binance CEO Changpeng Zhao "CZ" did not say how much FTT his firm will sell, but that as part of the cryptocurrency exchange’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash in the form of BUSD (Binance's stablecoin) and FTT.
As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4
— CZ 🔶 Binance (@cz_binance) November 6, 2022
Alameda’s CEO, meanwhile, tweeted that her trading firm’s financial condition is stronger than what was reflected by the balance sheet CoinDesk wrote about. She also offered, in a reply to the Binance CEO’s post, to buy his firm’s FTT token holdings for $22 each.
@cz_binance if you're looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!
— Caroline (@carolinecapital) November 6, 2022
FTX's native token (FTT) saw extreme volatility amid the back-and-forth Twitter exchange.
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