Shortly after these reports hit the market, CZ took to Twitter to announce that he would be offloading the firm’s FTT holdings. Binance received funds in FTT as part of its exit last year from an early equity position in FTX it had since 2019. “Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books,” CZ tweeted on Sunday. CZ said that he “won’t support people who lobby against other industry players behind their backs.”
The FTX boss also cited Alameda Research CEO Caroline Ellison, who said, “that specific balance sheet is for a subset of our corporate entities.” Ellison also claimed that the firm has over $10 billion of assets “that aren’t reflected there.” SBF went on to thank “those who stay level-headed during crazy times,” adding that withdrawals and deposits at FTX were working fine and the exchange had already processed “billions of dollars” worth of transactions. As for Binance’s decision to dump its FTT holdings, Ellison offered to buy the exchange’s remaining FTT holdings over-the-counter (OTC) for $22 if CZ was looking to “minimize the market impact” of the sudden move.
Read more of this story at Slashdot.