The Crisis Is Growing: Firms Are Pulling These 9 Altcoins From FTX!

Some news about Binance and FTX, the largest cryptocurrency exchanges, marked today. Binance CEO Changpeng Zhao announced that they will sell FTX’s native token FTT as an “early measure”. After the event reached wide circles, it turned out that large companies pulled their altcoin projects from FTX. Here are the details…

These altcoin projects are coming out of FTX

A few hours ago, Changpeng Zhao announced that Binance will begin liquidating its FTT investments after “recent announcements”. With this, As we have also reported, the manager of the largest stock exchange stated that his company is not “against” anyone. But at the same time, he announced that he would not support people who “lobby against other branch players” behind their backs.

On the same news, exits in the stock market began to rise and leading companies began to withdraw their assets from FTX. Blockchain security firm and analytics platform PeckShield has revealed that approximately $40.4 million USDC has been transferred from FTX to Jump Trading in the past 24 hours.

In another process, crypto was transferred from the exchange to Nexo at the cost of approximately $94 million. The process also included Ethereum worth $73.9 million. In addition, other altcoins such as SAND, FTM, AXS, MKR, LINK and MATIC were also removed from the exchange. In another tweet, PeckShield revealed that roughly 10,000 ETH (approximately $15.9 million worth) has been transferred from FTX.

Alameda sends stablecoin to FTX

In parallel, FTX’s sister company Alameda was seen sending stablecoins to FTX. After getting deposits from Circle, he deposited them in FTX. More than $257 million was sent. The account named “The Data Nerd” pointed out that the stablecoin exit on FTX hosted the largest processes amid all exchanges last week. He revealed that it likely points to FUD (fear, uncertainty and doubt) shots from market participants. If transfers from Alameda were excluded from the equation, the picture would be “much uglier” than the thesis.

Along with the withdrawal of the companies in question, many other addresses also began to withdraw their funds. It has issued assets such as ETH, stETH and USDC from the platform. It should be noted, however, that FTX has recorded listings on the exchange, including coins containing USDC. However, pullbacks remained at a higher level. A question arose as to whether Jump Trading has withdrawn its assets from FTX due to Binance news. On top of that, “Nansen Intern” explained that this type of behavior was “pretty standard” and that the incident did not occur out of the blue as the firm was “constantly depositing and withdrawing funds”.

FTX CEO just tweeted

Addressing the rumors circulating, FTX founder Sam Bankman-Fried explained that the funds held by the company are financially audited. He also stated that the withdrawal and deposit processes are working properly. He stated that the exchange essentially carries out the process at the cost of “billions of dollars”.

Today, we actually performed billions of dollars deposit/withdrawal processes; We will continue to do so. In addition, tons of USD <> stablecoin conversions are in progress.

Similar Articles



Please enter your comment!
Please enter your name here


Most Popular