Last minute! Binance CEO Ends Speculation: “We’re Disposing of This Altcoin!”

500 million dollars today FTT altcoin Binance CEO Changpeng Zhao (CZ) put an end to rumors about his transfer.

Binance CEO CZ Announces Liquidation of FTT Altcoins on Twitter

As part of Binance’s exit from FTX shares, according to the CEO’s statement cryptocurrency A large amount of FTT tokens were given to the exchange.

As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4

— CZ 🔶 Binance (@cz_binance) November 6, 2022

The CEO reported that it was decided to cash out a total of $2.1 billion worth of BUSD and FTT tokens sent to them:

“As part of Binance’s exit from FTX capital last year, Binance received approximately 2.1 billion USD equivalent of BUSD and FTT in cash. Due to recent developments, we have decided to liquidate the remaining FTT in our accounts.”

Chanpeng Zhao argued that the liquidation of FTT tokens will be carried out without affecting the market as much as possible:

“We will try to do this in a way that minimizes market impact. We expect this to take several months to complete due to market conditions and limited liquidity.”

Binance CEO argued that this is not a move against rival cryptocurrency exchange firm FTX:

“Binance always encourages collaboration between industry representatives. As for speculation as to whether this was a move against an opponent, that is not the case.

Our industry is still in its infancy, and whenever a project fails publicly, it hurts every user and every platform.”

The famous CEO said that FTT tokens have already been held by them for a long enough time:

“We usually hold tokens for the long term. We have held this token for such a long time. We are transparent in our actions.”

*Not investment advice.