Changpeng Zhao suggested all the Crypto exchanges not support FTX token deposits.
Changpeng Zhao is the CEO and founder of the first-ranked crypto exchange Binance. He is among the top 10 richest people in the world, thanks to his crypto empire. Binance exchange operates its own crypto & blockchain ecosystem, to provide fully safe crypto services without depending on other crypto companies.
On 13 November, Changpeng Zhao took to Twitter to inform followers that the Binance exchange suspended its deposit support for the FTX token (FTT), to remain from any kind of worst situation. And also suggested other crypto exchanges follow the same thing.
.@binance has stopped FTT deposit, to prevent potential of questionable additional supplies affecting the market. We will monitor the situation.
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
Also encourage other exchanges to do the same, just to be safe. Let's not have another GALA.
— CZ
Binance (@cz_binance) November 13, 2022
This decision to suspend the support of the FTT deposit has been taken in response to the transaction activity of the remaining $400 million worth of FTT. Zhao thinks that there are chances that the team may unlock this amount of funds to insert in the market circulation supply.
FTT contract deployers moved all remaining FTT supply worth $400 million, which should be unlocked in batches. Not too sure what's going on.https://t.co/JBPd02xIRk
— CZ
Further through another tweet, Zhao said that if any exchange moves huge amounts of funds to demonstrate the wallet addresses then that thing may be a sign of a very big problem.
If an exchange have to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems. Stay away. Stay #SAFU.
— CZ
FTX token price
At the time of writing this article, the price of FTT is $1.93 and this price is 91.6% low over the last 7 days of trade price.
Read also: Former FTX officials trying to flee to Dubai: Report
Binance suspends support for FTX token
https://bitcoinik.com/binance-suspends-support-for-ftx-token/feed/
https://bitcoinik.com/binance-suspends-support-for-ftx-token/feed/
