While FTX falls to Binance, the exits

While FTX falls to Binance, the exits

in the middle of an escalating war with the Binance founder Changpeng Zhao, the charismatic FTX CEO Sam Bankman-Fried denied rumors that his crypto exchange was short of liquidity.

The next day, FTX stopped the withdrawals. Where have we ever seen that?

The shocking takeover of FTX by Binance did not take place long after the imposions of the other centralized cryptoplatt forms Celsius and Voyager, which took place in the middle of the year.

While these now bankrupt companies were not pure stock exchanges, their users Waiting for repayment and now small investor Dumping of the native FTT-TOKEN of the Börse too reduced prices.

ftt war Handel for around $ 22 Monday night. At the time of publication, the token had slipped by more than 80 % to around $ 4.

"When the bony is made, the FTX inserts seem to get well again, but those who have invested in the FTT tokens still seem to keep their bags," said Matthew Fiebach, Analyst at Blockworks Research.

ftt became a popular purchase in summer when FTX appeared strong as ever. FTT owners have access to Reduced trading fees and ftx would token Burn if the use of the stock exchange increases, which makes FTT more valuable, according to the idea.

but FTT has limited liquidity and as a coind Last week was used to potentially insolvent ftx-sister organization To support Alameda Research. Fiebach noticed that Binance CEO ZHAO also signaled no willingness to maintain FTT's value system.

From Tuesday afternoon, the market panic seemed to have spread to other crypto exchanges Krake and Münzbasis Both report interruptions. Commercial functionality on FTX is currently normal, but payment applications are not processed (block works have asked all three platforms for a comment).

But even the Solana Blockchain, in which Bankman-Fried is strong, reports to be difficult to process transactions.

"It is premature to say, but this could be a late continuation of the solvency crisis, which was triggered by the collapse of Terra. Hopefully Alameda is still solvent. If this is not the case, the infection may spread again," said Greg di Prisco, partner at Distributed Capital Partners, in a telegram institution.

as FTT to Zhaos Tweet, in which Binance announced that Binance would sell all of his tokens, collapsed, accused Ryan Salame, the co-CEO of FTX Digital Markets, the crypto-titanium because he failed to protect regular FTX users.

"Age [Zhao] is literally the worst, someone offered directly for purchase [over-the-counter] to avoid that a retail is violated, and he decides to cause pain instead", Salame tweeted refers to the offer of Caroline Ellison, CEO of Alameda, to buy the entire financial transaction tax from Binance for $ 24

ftx-founder Bankman-Fried also has Criticism about a lack of clear communication about the future of FTT when the price skyrocketed this afternoon - and the retail trade had to be left to itself.

The CFTC, an American supervisory authority that is commissioned to protect small investors from large volatility fluctuations, monitors the takeover of FTX by Binance, a speaker said Reuters.

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the post as ftx Fall to Binance, Retail Crypto Investors Rush for the Exits is not a financial advice.