The cryptocurrency market is awash with events around FTX-Binance. The announcement by Binance CEO Changpeng Zhao (CZ) that Binance will sell the FTX Token (FTT) triggered a series of events. FTT started to see sharp declines and lost 80% of its value today. While these developments were taking place, Tesla CEO Elon Musk and Dogecoin inventor Billy Markus were also involved with their comments.
FTX incident shook the cryptocurrency market
Koindeks.com As you follow, the crypto market experienced one of its toughest days today. Events around FTX-Binance expanded and spread across the market. So much so that the US Commodity Futures Trading Board (CFTC) stepped in. The CFTC first reported that it was following the events closely. Subsequently, news broke that the CFTC had launched an investigation into the bet. With this news, FTX Token (FTT) accelerated its decline in a short time and dragged the market after it.
In the middle, FTX CEO Sam Bankman-Fried announced that he will buy Binance’s business outside of the US for an undisclosed price. Binance CEO Changpeng Zhao also confirmed this news shortly after. According to the statements, the agreement only concerns FTX and Binance’s businesses outside the US. Sam Bankman-Fried noted that the US branches of each company, Binance US and FTX US, are different and will not be affected by the settlement. However, the CEOs of the exchange also stated that the agreement has not been finalized now.
Implicit comments from Elon Musk and Billy Markus on the FTX event!
While these were happening in the market, Elon Musk, a fan of chest coin Dogecoin (DOGE), did not hesitate to comment. David Sacks shared his book “Only Paranoids Survive” with a statement. “It is easy to forget this lesson in a bull market,” he said in his statement. Elon Musk stepped in at this point and confirmed what he said by saying Yes.
It’s hard to guess what’s going through Elon Musk’s mind. However, it is possible to say that the bull market also implies the value of taking measures against the bear market.
In the middle, Billy Markus, the inventor of Dogecoin, whom Musk is a fan of, also made a comment on the developments. Markus tweeted the following suggestive:
I hope Mtgox buys Binance. Thus, it is possible for us to enter a complete cycle.
Elon Musk responded to Billy Markus’s post with a smiley face emoji.