The CEO of cryptocurrency exchange Binance, Changpeng “CZ” Zhao, said his company will liquidate the entirety of its position in FTX Token (FTT), the native token of competing exchange FTX.
We gave support before, but we won't pretend to make love after divorce.
But we won't support people who lobby against other industry players behind their backs.
Cointelegraph contacted Binance for clarification about the reasons behind the liquidation, a spokesperson said the company has no further updates “at this time.”
Related: Bankman-Fried misguides regulators by directing them away from centralized finance Zhao didn’t state how much FTT Binance would sell but revealed the exchange held around $2.1 billion U.S dollar equivalent in Binance USD (BUSD) — the exchanges stablecoin — and FTT due to its exit from FTX equity last year.
FTT is down over 4.3% over the last 24 hours trading around $22.50.

Source - Con Telegraph
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