bitcoinFTX and Alameda statements from Binance CEO angered some investors at a time when .
Citing the reports that Alameda and FTX did not have sufficient liquidity and that they created a perception with misleading balance sheets, Cz announced that they would sell their FTTs as part of risk management.
Binance CEO Got It Right
The big dumps today showed that Binance CEO Cz was right. Because it turned out that the Alameda team, who said that they would keep the FTT price in any way and that they did not have any liquidity problems, lied again.
They Didn’t Have The Money To Hold The $22
Alameda CEO stated that they are ready to buy all FTTs at $22. However, the price dropped to $15 levels this morning. This shows that they do not actually have the liquidity they claim.
They Dumped The Market For Liquidity
Because the liquidity crisis in Alameda has reached such a level that they had to dump many altcoins, especially SOL, on retail investors in order to keep FTT during the dump or to provide liquidity for themselves.
They Didn’t Keep Their Promises
The fact that they sold BIT tokens that they promised not to sell for 3 years is also an indicator of this liquidity crisis. Alameda made about $30 million from today’s BIT sale. The failure of an investment company claiming to manage 10 billion dollars to its promises for 30 million dollars has revealed the extent of the liquidity crisis.
Interest Rates Rise Up To 49%
Again in FTX, we see that the dollar interest rates increased to 49% yesterday. Although it has decreased to 10% again nowadays, it is understood that it is trying to provide liquidity with an interest rate of 49% yesterday.
Will FTX Go Down?
Will FTX get away with this situation? will it end up like LUNA? Time will show that. However, the fact that they had to dump the entire market in order to cope with the liquidity crisis that occurred in a short time shows that it is not as strong as they say.
What happened today shows that the Binance CEO was right in his early move. Because if Cz didn’t make this move, the goods would be unloaded on investors at higher prices with a fake rise, and a fake spring mood would occur without the small investors noticing until Alameda’s unsustainable liquidity crisis broke out.
So it’s time to thank Cz, not get angry.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!