UK Investigates Binance About FTX Bankruptcy!

Cryptocurrency Investigations and investigations continue after the collapse of the stock market FTX.
There is also an investigation in this regard in the United Kingdom.

As part of the ongoing investigation in the UK, according to Bloomberg’s report. Binance, the world’s largest cryptocurrency exchange There is also.

According to the news, lawmakers FTX It questions Binance over the FTT token sales that triggered its crash.

As part of this inquiry, Binance, FTX purchase agreement negotiations and FTX’s native token FTTAgreed to present evidence to the UK Parliament’s Treasury Committee on the decision-making process regarding the dissolution of .

In the news, the stock market’s FTX collapse is worth Binance’s $580 million. FTT It is stated that it has agreed to provide evidence that it was not triggered by the decision to liquidate its tokens.

Daniel Trinder, Binance’s vice president of government affairs in Europe, said that he will provide information to members of the UK Parliament’s Treasury Committee as part of Binance’s appearance as a witness in the FTX investigation.

“When Binance announced that it would liquidate its FTT tokens, it never intended to crash rival cryptocurrency exchange FTX.

Its purpose was simply to protect its own users.”

Harriett Baldwin, Chairman of the UK Parliament’s Treasury Committee, said he expects evidence from Binance about the potential market consequences of the FTT liquidation, including internal memos and records.

Binance announced in the past weeks that it has decided to liquidate FTTs, the native token of its FTX.

After Binance’s FTT announcement, FTT’s trading volumes hit a one-year high.