For those who have been browsing this subreddit over the past few weeks, some people might have noticed the growing rumors and posts on Alameda Research - specifically that it is illiquid and has most of its assets in FTT (their exchange token).
The issue has spilled over twitter, where CZ just tweeted that Binance will be liquidating their FTT position.
Everyone should pay close attention to what will happen next - Alameda Research is already heavily leveraged. If the mass sells by Binance cause material downward pressure, it could lead to a sell-off / death spiral. A bit interesting given FTX has been seen as one of the stronger exchanges in recent months.
Edited to remove fake SBF tweet!
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments