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.
Well i don't know about the connections between FTX and Binance but it seems like Binance invested into FTX some time ago or they would not have that many FTT tokens i guess. I am not a big fan of binance in general, simply for the fact that they are slowly but surely becoming very dominating in the crypto space and it is never a good thing if one company is dominating a whole industry sector. A few weeks ago Binance announced that they would no longer support USDC as a stablecoin on their exchange even though it is the second largest stablecoin and also a very reliable one, but of course it is managed by coinbase which is a competitor of Binance so they delisted it and now the same with the sell-off of the FTT token.