Cryptocurrency exchange Binance has stopped depositing FTT, the token of the sinking FTX exchange. Binance CEO CZ made a statement on the subject.
There has been another expected development today about FTX, which has turned the crypto money world upside down in recent days and went bankrupt while being one of the largest stock exchanges in the world. The largest exchange Binance, FTX exchange’s own token that FTT has stopped investment transactions explained.
The announcement was made directly by Binance CEO and founder CZ (Changpeng Zhao). Zhao also mentioned other crypto exchanges in his statement. calling on them to take the same action found. CZ’s statement was as follows:
FTT statement from Binance CEO:
“Binance has discontinued FTT investments to avoid questionable potential for additional supply affecting the market. We will monitor the situation. Also, to be safe, encourage other exchanges to do the same. Let’s not have another GALA.”
“FTT contract distributors moved the entire remaining supply of FTT worth $400 million. It needs to be unlocked in bulk. I’m not quite sure what’s going on.”
“If an exchange has to move large amounts of crypto before or after revealing wallet addresses, that’s a clear sign of trouble. Stay away.”
Another move came from FTX sponsors:
NBA team Miami Heat and Formula 1 team Mercedes-AMG PETRONAS with FTX terminated sponsorship deals. While Mercedes removed the FTX logos on Formula 1 vehicles, Formula 1 management started to work on removing the advertisements placed on the tracks.