cryptocurrency prices fell between the news of FTX Bankruptcy, Changpeng Zhao, the founder and CEO of Binance, the world’s largest cryptocurrency exchange, announced on Sunday that his trading platform is about to sell his stake in FTT, a competing platform for FTX’s native asset.
Noting that Binance CEO Changpeng “CZ” Zhao is selling native coins to FTT, he mentioned “new revelations that have emerged”, but did not make any further public mention of them or answer questions about them. not given.
In a subsequent tweet, Changpeng Zhao cited lessons learned from the collapse of Terra Luna Classic (LUNC) and its impact on market participants, saying the FTT liquidation was “post-exit risk management only”.
“We will not assist those who advocate behind the backs of other industry participants,” he said.
However, Binance’s decision may be influenced by recent balance sheet statements from research by Sam Bankman-Alameda Fried. According to this statement, Almeida’s assets are worth billions of dollars and are tied to the FTX token.
being divided in their opinion
For weeks, FTX CEO and producer Sam Bankman-Fried has been penalized for legislative suggestions he made in an earlier piece that recommended a ban on DeFi. These criticisms have been addressed by Changpeng Zhao. He has since promised to reconsider his stance on the law. Meanwhile, Binance bought the FTT fund last year as part of its exit from an earlier equity investment in FTX since 2019.
According to zhao, FTX paid $2.1 billion in FTT and BUSD for Binance’s stake in the company, the only stablecoin available on Binance’s market. Changpeng Zhao predicted that the liquidation would take several months to complete, due to market conditions and lack of liquidity. Further, he added that it would be done in such a way as to minimize the impact on the FTT market.
However, according to reports, FTT, which rose from a low of around $22 on Sunday, is down 9.5% in the last day from $25.55 to $23.03. On Saturday, Etherscan reported that 22,999,999 FTT, worth $584 million at the time, had been transferred to Binance’s exchange. This represents exactly 17% of the FTT’s current supply.
Alameda’s CEO Explains His Financial Situation
Changpeng Zhao’s statement responds to rumors about the financial status of Sam Bankman-Trading Fried’s company Alameda Research, which surfaced after a leaked balance sheet revealed that the trading company had assets in FTT assets as of June 30. was $5.8 billion. (including FTT tokens pledged as collateral).
Alameda’s assets included $14.6 billion in assets, $8 billion in liabilities, $7.4 billion in undisclosed debts, and $14.6 billion in holdings. On Saturday, Carolyn Ellison, CEO of Alameda Research, responded to the allegations. Twitterclaimed that Almeida had more than $10 billion in assets that were “not disclosed” on the leaked balance sheet.
According to Ellison, Alameda has a number of defenses and has already paid off most of its existing debts. Additionally, Zhao advised buying Binance’s outstanding FTT at a fixed price of $22 to “mitigate market influence.”
FTX CEO SBF Responds as Binance Dumps FTX Tokens
FTX CEO Sam Bankman-Fried addressed Binance has decided to sell its FTT (FTX) assets. In conflict with Binance CEO Changpeng “CZ” Zhou, SBF has decided to go the diplomatic route.
Instead of addressing specific claims, he called for collaboration between key industry participants, rather than focusing on Alameda Research or Binance dumping FTTs.
The cryptocurrency industry is preparing for an all-out battle between the two largest cryptocurrency exchanges, FTX and Binance. However, the CEOs of both the companies are trying to defuse the tension between them.
To minimize the potential impact on the market, CZ says it will phase out FTTs gradually. He says it’s not meant to damage the FTX.
Similarly, SBF says it appreciates CZ’s work for the crypto community. He says that market leaders should focus on blockchain development rather than military conflict.
3 coins to buy Deepa
Dash 2 Trade (D2T)
second stage of D2T Presale already sold out $5.16 million In just two weeks. Dash2Trade is a concept created by the hugely popular trading signals company Learn2Trade which will be launched in the second half of 2022. The platform aims to provide market-driven insights to help investors make informed decisions.
To improve the trading experience, D2T provides trading signals, social analytics and even market sentiment analysis.
dash 2 trade According to the development team, Bloomberg aspires to be the trading terminal for cryptocurrencies. To automate trading processes and optimize all trading methods, the platform also includes automation and backtesting capabilities.
Dash2Trade includes a notification service that alerts investors to all new coin listings on centralized exchanges, providing them with information that was previously only available to elite investors. It’s no surprise that D2T presale numbers have been phenomenal with so much potential.
The digital currency has already raised over $5.6 million ($5,604,587).
Calvaria (RIA)
calvaria, a new cryptocurrency gaming project, is set to take the industry by storm and become one of the top play-to-earn games on the market. Calvaria developers have discovered two major obstacles to the widespread adoption of Web3 gaming. While investors have recognized the potential of Web3 games, players have not.
Calvaria continues to accelerate its pre-sales, which is already in Phase 4 of 10 and is nearing the $1.5 million mark. With the price of native RIA tokens increasing significantly at each pre-sale phase, investors are flocking to the rapidly expanding GameFi project.
Each token is priced at $0.025 in Phase 4, but by Phase 5, the price has increased to $0.03, and by Phase 10, the price of the token is $0.055.
IMPT
The team at IMPT is making the world of carbon credits more efficient than ever by chaining them. Until recently, the carbon credit system was incredibly opaque; This only applied to businesses, and doing business with them was inefficient and archaic. Carbon credits can be traded as NFTs on the blockchain 24 hours a day, seven days a week.
According to Broadridge Financial Solutions, the carbon credit market is expected to cross $50 billion by 2030, with the ESG industry crossing $30 trillion.
More than 25,000 firms have already joined IMPT Shopping platforms including industry giants such as Microsoft, River Island, Amazon and Samsung. With this, the IMPT presale has now raised $12 million and is selling out fast.
The price of the IMPT token has been increasing with each stage of the pre-sale and is now at $0.023.
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