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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
Looks like CZ is slowly dumping $500M worth of FTT on the market, if he continues many of Alameda's FTT backed loans will be liquidated causing a death spiral.
Let the party begin! pic.twitter.com/lKJ1zwr17S
— Bitcoin vs. Gold (@VersusBtc) November 6, 2022
@cz_binance if you're looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!
— Caroline (@carolinecapital) November 6, 2022