Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » FTX CEO Reacts To Bankruptcy Rumors

    FTX CEO Reacts To Bankruptcy Rumors

    0
    By qaasim on November 8, 2022 Companies, Market, News
    Temasek Cuts Salaries of Staff Responsible for $275M FTX Investment
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Following the news making the round that FTX crypto exchange is virtually bankrupt, the FTX founder and CEO Sam Bankman-Fried has outrightly denied the claim, stating that the exchange has no liquidity issues as per a post.

    https://twitter.com/SBF_FTX/status/1589598284322328579?t=V-mmIJC2aMW1vDw566X7oA&s=19

    The rebuttal followed Binance CEO Changpeng Zhao’s statement that the exchange would initiate FTT token liquidation as a risk management.

    As part of Binance’s 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. 1/4

    — CZ 🔶 BNB (@cz_binance) November 6, 2022

    Bankman-Fried further stressed that the exchange has sufficient funds to cover clients’ holdings, adding that all client assets are in safe condition including their treasuries. 

    https://twitter.com/SBF_FTX/status/1589598285798707202?t=7JmW7p52WfqMNLPBjceCkw&s=19

    Meanwhile, Binance co-founder and chief customer services officer Yi promptly reacted to FTX CEO that Binance is not considering selling its FTT token due to any perceived discussion between the two exchanges. Yi asserted that the decision was borne out of Binance’s appetite.

    2)@cz_binance also publicly shared thoughts on that as our community was asking. We always respond to what our community asks in a transparent and direct way. https://t.co/62iG0CQDTt

    — Yi He (@heyibinance) November 7, 2022

    In the same vein, FTX on Nov. 7 assured its esteemed users complaining about withdrawal delays that the exchange is on top of the situation, adding that the matching engine is being put in the right direction for things to run smoothly.

    1: Support updates:

    — FTX (@FTX_Official) November 7, 2022

    Fear Rises Among FTX Users

    Fears are emerging among FTX users that the exchange’s situation may be related to Celsius, which also halted withdrawals in the midst of its recent crisis.

    eth x

    However, the recent occurrences amid FTX exchange have triggered a sell-off of FTX token coupled with the general downtrend of the crypto market. 

    Recall that on-chain analysis reported that an unknown wallet transferred roughly 23 million FTT to Binance, which was worth $584 million. The development was later confirmed by Binance CEO CZ, stating that it was initiated by the exchange as part of its decision to liquidate its FTT position.

    It was concluded that Binance’s decision was due to the report that FTX cryptocurrency hedge fund Alameda Research could go bankrupt due to its lack of altcoins liquidity.

    At press time, FTT token is down by 21.% in the last 24 hours and is trading at $17.5 according to data from CoinMarketCap. 

    blockchain cryptocurrencies cz Featured FTX SBF
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    qaasim
    • X (Twitter)

    Salaam Rasak entered the crypto space while completing his Masters degree and has continued to dig deep into Web3 space since then, writing articles related to Web3 and blockchain. He started working with Blockchain Journal in September 2022.

    Related Posts

    Hyperliquid’s USDH stablecoin call sparks fairness and governance debate

    September 5, 20253 Mins Read

    SharpLink to explore staking part of its $3.6 billion ETH treasury on Linea

    September 5, 20253 Mins Read

    Strategy Inc.’s path to the S&P 500 faces committee discretion, extreme volatility, and Bitcoin-dependent results

    September 5, 20253 Mins Read

    Coinbase accelerates toward a majority of AI-generated code amid a global trend

    September 5, 20253 Mins Read

    World Liberty Financial Blocks Justin Sun’s Wallet Amid WLFI Controversy

    September 5, 20253 Mins Read

    SEC bets on a pro-crypto agenda with a series of rulemakings on digital assets

    September 5, 20252 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.