Recently, CZ released a series of tweets stated that Binance will start to liquidate there FTT token from there orderbook as part of there parting ways to FTX exchange since there announcement last year. They are doing it in batch since the liquidity on the orderbook is not sufficient to absorbed all there tokens on a decent price.
Im sensing a price dump on FTT here like what happened on Luna and Im sure this will create a ripple effect on crypto in general since this are the battle of 2 largest crypto exchange.
As part of Binances 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.
Will crypto market will be affected again like what happened during Luna sell off?