1 year ago
FTX CEO Sam ‘SBF’ Bankman-Fried has taken to Twitter to telephone retired a “competitor” for “trying to spell aft us” and reassured the manufacture that contempt the attempt, “FTX is fine. Assets are fine.”
2) FTX has capable to screen each lawsuit holdings.
We don't put lawsuit assets (even successful treasuries).
We person been processing each withdrawals, and volition proceed to be.
Some details connected withdrawal speed: https://t.co/tSjhJW3JlI
(banks and nodes tin beryllium slow)
— SBF (@SBF_FTX) November 7, 2022
The tweet menace appears to beryllium a effect to rumors and speculation of liquidity issues astatine FTX and Alameda Research. The rumors whitethorn person played a relation successful Binance’s caller determination to liquidate its $500 cardinal successful FTT tokens implicit the weekend.
SBF expanded further by claiming that FTX “has capable to screen each lawsuit holdings” and volition proceed to process each withdrawals. He closed his thread with the pursuing statement, implying that the aforementioned “competitor” could beryllium Binance:
4) I'd emotion it, @cz_binance, if we could enactment unneurotic for the ecosystem.
— SBF (@SBF_FTX) November 7, 2022
CZ had posted implicit the play that helium planned to liquidate Binance’s FTT tokens owed to “recent revelations that person travel [sic] to light” but wanted to marque definite the “market impact” is minimal.
Cope, a contented creator astatine The Block, responded to SBF with an representation of a meme showing a location connected occurrence alongside the caption, “FTX is fine,” arsenic a premier illustration of the community’s presumption connected SBF’s statement.
Interestingly, astir of the conversation astir liquidity issues focused connected Alameda Research alternatively than FTX. SBF’s caller connection did not notation Alameda, alternatively focusing connected ensuring the crypto assemblage received the connection that “FTX is fine.”
Questions of Alameda’s solvency presumption whitethorn proceed until further grounds is presented to showcase that the institution has capable assets to enactment its loans should the FTT token proceed to autumn successful price.
The worth of the FTT token continued to autumn going into the U.S. marketplace unfastened connected Nov. 7, hitting $22 successful the aboriginal hours. The token terms recovered connected Nov. 6 pursuing Ellison’s bullish connection that Alameda could bargain each of Binance’s FTT tokens astatine $22. However, immoderate betterment has since been thwarted arsenic the terms struggles to clasp $22.
FTT-USDAs of property time, CZ has not publically commented connected SBF’s statement.
The station SBF says ‘FTX is fine. Assets are fine’ aft rumors of liquidity crunch, Binance determination to merchantability FTT appeared archetypal connected CryptoSlate.
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