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FTX founder responds against Binance’s FTT liquidation decision

FTX founder responds against Binance's FTT liquidation decision 15

Sam Bankman-Fried (SBF) said that the crypto exchange FTX is fine & also assets are fine. And also confirmed that exchange is supportive to the Binance exchange.

On 7 November, Changpeng Zhao, CEO & Founder of Binance, announced that Binance exchange will liquidate its FTX token (FTT) holdings. At the same time, Binance’s CEO confirmed that the exchange will sell FTT carefully & slowly and also confirmed that there was no fight between these two exchanges (FTX & Binance). 

Today, FTX CEO & founder SBF responded on Twitter about this matter and said that FTX & its assets are fine.

In the same Twitter thread, SBF said that FTX never used clients’ fund holding to sustain the exchange, and also exchange is holding a sufficient amount of funds to cover future challenges.

Further FTX CEO explained that exchange works under a fully regulated system and also FTX continuously following the safest way to run the operations since the beginning.

SBF also welcomed the Binance CEO Zhao to work together to grow together in the crypto space. 

The comments under the SBF Tweet thread are showing that every crypto Investors are supportive to both of the exchanges and they are ready to hold a Twitter space conversation to make things more clear that there were no backed-end fight between these giant crypto companies. 

The response from FTX CEO was much needed because earlier these few users claimed that they were not getting the withdrawal of their funds from the FTX exchange. SBF explained that the weekend caused problems for the USD stablecoin redemption & Bitcoin withdrawal limited because of the throughput limit. 

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FTX founder responds against Binance’s FTT liquidation decision



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