Binance Responds to Allegations of Intentionally Sinking FTX!

World’s largest by volume cryptocurrency Binance, the exchange, has denied that it deliberately plans to sink rival FTX after questioning by UK parliamentarians.

Binance Submits 5 Pages of Document to UK Authorities About Alleged Sinking of FTX

As promised at a hearing on Monday, the exchange sent a five-page document to the Parliamentary Treasury Committee on Wednesday outlining the series of events that led to FTX’s collapse.

The document states that most of the initial catalyst’s assets from Alameda Research are FTT, which is FTX’s own token. from altcoin It is stated that there is a CoinDesk article about the formation of Alameda is a trading firm affiliated with FTX. FTX has since filed for bankruptcy.

“From the above it is clear that the causes of FTX’s collapse were financial irregularities and possible fraud, originally reported in the CoinDesk article on Nov.

The Treasury Committee held a hearing on Monday to question officials of crypto companies following the collapse of FTX, and Binance’s vice president for European government affairs, Daniel Trinder, said: He offered to send this document after he asked if it caused the collapse of the company.

The committee also asked Trinder if he knew that his actions, such as Binance’s release of a large portion of FTT holdings and abandonment of the deal after agreeing to buy FTX, could lead to the collapse of FTX.

“But once this decision was made, it should have been clear that one of your biggest competitors, FTX, could have caused its downfall,” Baldwin said.

*Not investment advice.

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