CZ Announced plan to Liquidate FTT of FXT. Your take on this

GreatArkansas

legendary

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I believe that issues right now on the FTX exchange are because of their competitors. If you take a look at this. Even if Binance will sell all of its FTT holdings, FTX can afford it.
Sam Bankman-Fried already tweeted that FTX is fine, and all users' funds are fine too.
I really believed with FTX, they are well-established exchange and well-reputable.

KINVAN e

newbie

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SBF's counterattack is also reasonable, it needs more control, this is human nature, when CZ's own bnb also has a lot of bad things, anyway, all the actions are to give him more right to speak.

tbct_mt2

hero member

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FTX and Binance, Changpeng Zao and Sam changed from friends, partners to be competitors. They no longer look at a same vision and they are competing each other in many areas.

In May 2022 and a few months later, whilst CZ and Binance rejected to support LUNC, rejected to waive their trading fee in order to buy back and burn LUNC, announced to let bad projects die with time in bear market; FTX and Sam are more proactively to support in-trouble projects with their capital. They even argued and attacked each other seriously on social media about that.

I don't believe CZ and Binance have enough power to liquidate FTT. It's a rumor, a drama and that's all. No worry about FTX and FTT token.

Chainsmokers

sr. member

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Quote from: Lordsilvabtc on November 06, 2022, 12:17:31 PM

The recent news of Binance trying to liquidate FXT has come as a surprise to myself and some few other Crypto enthusiastic, at a time like this that the crypto marketing is suffering a lot of lose, Such shouldn't be happening, but this is CZ, who's showing Bossing attitude on this matter, I strongly believe this will have a big effects on the current market. And we all need to be on guard and watch our investment, if possible that you have asset on that platform, I advice you move your asset or sell off now

https://twitter.com/cz_binance/status/1589283421704290306?s=19

CZ made the decision it seems because FTX has a risk of an exit scam, this is the reason CZ sells a very large FTT and it is reported that CZ will also sell it gradually starting next month,
we know from the LUNA case that CZ has lost a lot and his actions for now are indeed I think it's correct because if it's not sold and FTX goes bankrupt then we know that their token FTT will also be affected, which is a dump.

OgNasty

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I think if I were holding any FTT at this point I would definitely follow the leader with Binance and liquidate my holdings. FTX may very well be solvent and there might not be any problems at all. However, after the recent collapse of Celsius and others I wouldn’t want to take any chances. I’d move those funds over to BTC and off of the exchange just in case the worst does happen. Better to be safe than sorry.

Bananington

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Quote from: asriloni on November 06, 2022, 06:54:55 PM

CZ may started to feel disbelief with SBF. CZ will sell FTT and this will bring the price of FTT to go down again. Glad i never try to buy FTT. This token doesn't look good at all.

CZ already indicated that he has initiated the process of liquidating his FTT, see the tweet from SBF in response to it;

BNB is also threatened right now, what if SBF goes ahead and dumps all their BNB in the market? Is CZ really doing what is best for the community or this is really a result of personal feud between the two of them?

The fact that this is still a progressing case, and we have not seen the end give me chills.

https://medium.com/@coinzone/the-feud-binance-ceo-cz-liquidating-ftt-ftx-ceo-sbf-liquidating-bnb-cc4fb5974fc0

danherbias07

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He said, "recent revelations" which means not just one but more. What could that be?
I wish he gave a clue on this matter, so at least we will have an idea of what is happening behind the curtains.

Two monster exchange companies throwing haymakers at each other, IMO this is a good sign that something better will come out.
He continued, "whether this is a move against a competitor, it is not". I doubt that.
CZ may have been honest with some of his tweets but he is also the one who sees the numbers in his company. If it spikes down, something must be done.

blockman

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Many tweets do tell that FTT can be like the next Luna/Lunc or UST. This debacle can really happen to this exchange token because of the volume and liquidity that will come to it.
And it's not just a normal liquidity but it's really going to be a more extent type of dumping for which no project will like to happen it to their projects nor exchanges.

asriloni

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SBF and CZ have been bring the crypto market to go down again. So many people are starting to feel panic again after they were seeing another drama is going on. A part of it if SBF was also doing something wrong like try to support politician. SBF shall remain neutral rather than try to do that.
CZ may started to feel disbelief with SBF. CZ will sell FTT and this will bring the price of FTT to go down again. Glad i never try to buy FTT. This token doesn't look good at all. I don't like the way alameda dominating everything by spreading the money acquired from FTX.
This VC just like has unlimited money to invest in the various crypto. FTT doesn't have good liquidity anymore. Crypto red will be coming very soon.

Yogee

sr. member

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Quote from: Lordsilvabtc on November 06, 2022, 12:17:31 PM

The recent news of Binance trying to liquidate FXT has come as a surprise to myself and some few other Crypto enthusiastic, at a time like this that the crypto marketing is suffering a lot of lose, Such shouldn't be happening, but this is CZ, who's showing Bossing attitude on this matter,

I still don't know the real story behind all these but it seems one platform is trying to take down another competitor by spreading FUD through mainstream media. It's probably a tough decision but CZ and Binance had to make it. You would probably have done the same thing if you were the owner.

Quote

I strongly believe this will have a big effects on the current market. And we all need to be on guard and watch our investment, if possible that you have asset on that platform, I advice you move your asset or sell off now

I don't think they're that big yet to cause major swings in the market unless they talk about liquidating their BTC holdings.

Minecache

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FTX has also announced its readiness to buy back all FTT tokens from CZ for $22. Many people are thinking that Sam will be the second Dokwon, but that will never happen, I think this is just FUD nothing too serious. Personally I also hold FTT and I will buy more of them if CZ really dumps.
Everyone knows that FTX is Binance's biggest competitor, obviously this is a competition between two big players in the industry and it's an opportunity, not a disaster like luna.

goaldigger

sr. member

Activity: 2422

Merit: 357

Probably FTX is trying to make pressure to CZ to liquidate his holdings on FTX so they can fully control their platform without having any support from it’s competitor. FTX is growing faster than expected and they are willing to buy that from CZ, not sure though for the real reason let’s see if CZ will do it and if he will disclose the reason behind this. I don’t expect any big impact for this because this is just a two companies dealing for their own interest.

Xal0lex

staff

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After reading your text I thought CZ was trying to liquidate another exchange. But there it talks about them exiting FTX capital and now they are liquidating all FTT tokens on their books. What kind of FTX liquidation are we talking about? Apparently, to have no business with the FTX exchange, they are selling off any assets that may have a connection to their closest competitor. No strong impact, the exchange itself can safely buy its tokens back in order to keep the price and supply stable.

Lizzylove1

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Christ The King

I have not fully comprehend the beef between CZ and FTT CEO, seems there was a kind of bridge of contract in terms of policy, which I am yet to get detail of, FTX CEO has tease CZ to sell all to him that he will buy all. We are watching as events unfold

Lordsilvabtc

member

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Merit: 15

The recent news of Binance trying to liquidate FXT has come as a surprise to myself and some few other Crypto enthusiastic, at a time like this that the crypto marketing is suffering a lot of lose, Such shouldn't be happening, but this is CZ, who's showing Bossing attitude on this matter, I strongly believe this will have a big effects on the current market. And we all need to be on guard and watch our investment, if possible that you have asset on that platform, I advice you move your asset or sell off now

https://twitter.com/cz_binance/status/1589283421704290306?s=19

Topic: CZ Announced plan to Liquidate FTT of FXT. Your take on this (Read 153 times)