The cryptocurrency market is awash with events around FTX-Binance. The announcement by Binance CEO Changpeng Zhao (CZ) that Binance will sell the FTX Token (FTT) triggered a series of events. FTT started to see sharp declines and lost 80% of its value today. While these developments were taking place, Tesla CEO Elon Musk and Dogecoin inventor Billy Markus were also involved with their comments.
FTX incident shook the cryptocurrency market
cryptocoin.comAs you follow, the crypto market has experienced one of its most difficult days today. Events around FTX-Binance expanded and spread across the market. So much so that the US Commodity Futures Trading Commission (CFTC) stepped in. The CFTC first reported that it was following the events closely. Then, news broke that the CFTC had launched an investigation into the matter. With this news, FTX Token (FTT) accelerated its decline in a short time and dragged the market after it.
Meanwhile, FTX CEO Sam Bankman-Fried has announced that it will buy Binance’s business outside of the US for an undisclosed fee. Binance CEO Changpeng Zhao also confirmed this news soon after. According to the statements, the deal only concerns FTX and Binance’s non-US businesses. Sam Bankman-Fried noted that the US branches of each company, Binance US and FTX US, are separate and will not be affected by the agreement. However, the CEOs of the exchange also stated that the deal has not been finalized yet.
Implicit comments from Elon Musk and Billy Markus on the FTX event!
While these were happening in the market, Elon Musk, a fan of meme coin Dogecoin (DOGE), did not hesitate to comment. David Sacks shared his book “Only Paranoids Survive” with a statement. “It is easy to forget this lesson in a bull market,” he said in his statement. Elon Musk stepped in at this point and confirmed what he said by saying Yes.
It’s hard to tell what’s going through Elon Musk’s mind. However, it is possible to say that the bull market also implies the importance of taking measures against the bear market.
In the meantime, Billy Markus, the inventor of Dogecoin, whom Musk is a fan of, also made a comment on the developments. Markus tweeted the following suggestive:
I hope Mtgox buys Binance. Thus, it is possible for us to enter a complete cycle.
Elon Musk responded to Billy Markus’s post with a smiley face emoji.
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