Sam Bankman-Fried (SBF), has spoken out in response to the accusations made by CZ, criticizing Binance for spreading false rumors.
The CEO of FTX, Sam Bankman-Fried (SBF), has spoken out in response to the accusations made by CZ, Binance. However, the global digital market has suffered due to uncertainty as a result of this conflict between the heads of crypto exchanges.
FTX Criticizes Binance’s CZ
SBF noted on Twitter that a rival is attempting to attack us with untrue rumors. Binance was specifically targeted by SBF for disseminating false information. According to a research, FTX SBF makes sure that deposits and withdrawals go smoothly.
Withdrawing traders’ Bitcoin holdings presented certain challenges. However, FTX showed that the matched engine is operating without any issues.SBF has confirmed that FTX and all the assets are in good condition.
The exchange has sufficient funds, he said, to cover all of the client’s assets. Treasuries and other assets owned by clients are not invested in by the company. All withdrawals will be processed by them, and they’ll keep doing it.
Despite the fact that this slows down the procedure, he said that the cryptocurrency trade is strictly regulated. With more than $1 billion in extra cash, FTX has GAAP audits.
SBF made sure that they have a solid track record of protecting customer assets.He phoned CZ from Binance, though, to collaborate for the ecosystem.
FTT’s ETH Holdings Decline
According to sources, it appears like FTX’s troubles are getting worse as a result of Binance’s decision to sell off its FTT token holdings.
According to data, Ethereum reserves on the cryptocurrency market may have reached a new low. Over the previous two days, ETH reserves have decreased by 300k. It now has 108,246.43.
Since November 2020, it is regarded as one of the most significant falls. Market-wise, the price of FTX token has dropped during the previous 24 hours by 4%.
As of the time of publication, it is selling for an average price of $22.44. Its $773.6 million 24 hour trading volume has increased by 182%.
