Due to the inconsistency in the FTX balance sheets, Binance’s announcement that it would sell its FTT assets completely shocked the markets. CEO CZ stated that he will maintain his stance against lobbyists.
Binance CEO CZ Alameda Research’s all of Binance’s assets, claiming the inconsistency in its assets. FTTs His move that he would liquidate things escalated. CEO of FTX Sam Bankman-Fried accusing Alameda of lobbying, which is under his management, CZ is in the crypto money market, which is still in its maturation stage. against lobbyists their demeanor is clear stated:
We will not support people who lobby behind their back against other industry players.
While Binance and the CZ front supported FTX in its early stages, each The break between the two stock markets started last year.
What caused a major crash on the markets last May terra (LUNA) and FTT, it seems that CZ wants to get rid of the bad scenarios that may occur in the coming period:
FTT liquidation is a risk management we learned only from the LUNA incident. We’ve supported before, but we’re not going to pretend to love after the divorce. We are not against anyone. It’s not a war, we’re doing some house cleaning.
From unknown wallets to Binance exchange shortly after CZ’s announcement, FTT around $500 million transfer observed. This data provided by Whale Alert twitter CZ, quoting fromYes it’s part of it” he stated.