An ongoing selloff in the FTX Token (FTT) market could worsen in the coming months owing to a mix of pessimistic technical and fundamental indicators.
We gave support before, but we won't pretend to make love after divorce.
CZ Binance (@cz_binance) November 6, 2022 Raising selloff risks, the announcement followed a large transfer of roughly 23 million FTT tokens worth $530 million to Binance, which CZ confirmed was a "part" earmarked for liquidation.
As of Nov. 7, FTX held $26.141 million worth of dollar-pegged tokens, its lowest in a year.
All stablecoin reserves on the FTX exchange.
Source: Cointelegraph
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