Users on Twitter compared the acquisition with a 'chess move,' insinuating that Binance's strategy intentionally led to the deal.
FTX founder and CEO Sam Bankman-Fried, or SBF, took to Twitter on Nov. 7 to claim that aexchange with false rumors. FTX"assets are fine," he said, stating that it had enough funds to cover all client holdings and does not invest client assets, even in treasuries. In the same thread, SBF also called for collaboration with the rival exchange Binance., the series of tweets triggered a sell-off of FTX Token that broke below the pattern’s support line near $22.
In a message to FTX's staff this morning, SBF said that $6 billion of net had been withdrawn from the platform in the past 72 hours, leading the exchange to"effectively pause," adding that the situation would be resolved in"the near future,"
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