Discussion

• Phemex Jeffrey Craig Date on x

  FTT Beginning To Break

• @cz_binance @cz_binance on x

  As part of Binance's exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4

• @carolinecapital Caroline on x

  @cz_binance if you're looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!

• @cz_binance @cz_binance on x

  Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.

• @whale_alert @whale_alert on x

  🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 22,999,999 #FTT (584,818,174 USD) transferred from unknown wallet to #Binance https://whale-alert.io/...

• @heyibinance Yi He on x

  3）The point we'd like to stress is that the decision to hold or sell a token depends on one's own risk appetite and judgement. Our decision to sell FTT is a pure investment-related exit decision, which has nothing to do with “a war” and we have no intention to engage in drama 😂 h…

• @sbf_ftx @sbf_ftx on x

  5) Because I respect the hell out of what y'all have done to build the industry as we see it today, whether or not they reciprocate, and whether or not we use the same methods. Including CZ. Anyway — as always — it's time to build. Make love (and blockchain), not war.

• @lawmaster @lawmaster on x

  @lookonchain They're also dumping a lot of other tokens on their Binance deposit address and depositing directly from FTX. - CHZ, LOOM, SHIB, LINK, DYDX https://twitter.com/...

• @timccopeland Cope on x

  No way did the FT use this image lmao https://twitter.com/...

• @versusbtc @versusbtc on x

  Looks like CZ is slowly dumping $500M worth of FTT on the market, if he continues many of Alameda's FTT backed loans will be liquidated causing a death spiral. Let the party begin! https://twitter.com/...

• @cz_binance @cz_binance on x

  Binance always encourages collaboration between industry players. Regarding any speculation as to whether this is a move against a competitor, it is not. Our industry is in it's nascency and every time a project publicly fails it hurts every user and every platform. 3/4

• @lawmaster @lawmaster on x

  I will say though before this thread gets taken over: 1. I do believe Alameda has the size to easily buy Binance's FTT OTC 2. I think the chance of FTX insolvency is near 0% 3. Clearly there are liquidity issues as people are withdrawing out of caution

• @heyibinance Yi He on x

  1）Binance labs has supported many young people to start their own businesses and alway sticks to long-term value creation. Recently, the Portfolio Management team at Labs decided to sell FTT based on the risk-control metrics we monitored.

• @heyibinance Yi He on x

  2）@cz_binance also publicly shared thoughts on that as our community was asking. We always respond to what our community asks in a transparent and direct way. https://twitter.com/...

• @cryptomanran Ran Neuner on x

  I think @cz_binance played this very smart! He sold his stake on FTX over a year ago and held the tokens he received until the perfect opportunity arose. Now that Alameda is over-leveraged against its FTT stake he dumps the tokens and does max damage.

• @lawmaster @lawmaster on x

  @lookonchain I think from what I have seen, it's possible Alameda and Binance did get some form of FTT OTC deal done. Otherwise, the actions are too random and inconsistent

• @seyitaylor @seyitaylor on x

  Real “if he dies he dies” energy from CZ

• @veh0rny @veh0rny on x

  Ftx stable coin was going to be backed by ftt https://twitter.com/...

• @lilmoonlambo @lilmoonlambo on x

  SBF vs CZ https://twitter.com/...

• @armaniferrante @armaniferrante on x

  What's scary is how easy it is for @cz_binance to manipulate public perception. https://twitter.com/...

• @rewkang Andrew Kang on x

  Bank run over Please return us to regularly scheduled bear market rally Thanks https://twitter.com/...

• @cz_binance @cz_binance on x

  We will try to do so in a way that minimizes market impact. Due to market conditions and limited liquidity, we expect this will take a few months to complete. 2/4

• @autismcapital @autismcapital on x

  This is as obvious as it gets. CZ is pissed that Sam tried to consolidate power via his policy behind CZ's back and is now trying to punish him and signal a lack of confidence in Sam/FTX by dumping all their FTT and equating Sam to LUNA/Kwon. CZ revealed his hand with this tweet …

• @thetaseek @thetaseek on x

  1/ The ambiguity in language and fud stirring in the name of transparency, moving the industry forward and user protection at its finest here. I.e “recent revelations”, “decided to liquidate any remaining FTT” https://twitter.com/...

• @adamscochran Adam Cochran on x

  The other big question is why is the book value of $22/token worth it to them? Why not let it dump and keep the capital for other opportunities and buy it later? Should it really actually hurt FTX or Alameda if the token dumps temporarily? Not unless its collateral, right? https:…

• @cz_binance @cz_binance on x

  @frxresearch 🤷‍♂️

• @manithawani Mani Thawani on x

  Crypto valuation same as traditional markets is a war of pumping, printing & market makers since day 1. It's amazing you guys have took arguments on a public social media. We would never see this happening in traditional markets, where situations are sorted in doors. https://twit…

• @coryklippsten @coryklippsten on x

  Would love to the liabilities not listed, plus the massive pile of illiquid sh*tcoins marked near zero. Anyone got that balance sheet handy? https://twitter.com/...

• @jose34730 José on x

  This FTX/Binance clown show is partly done to distract plebs from the fact that none of their balance sheets are public. For an industry that prides itself on transparency, it is pretty bad that some of its largest banks can't even provide consolidated financials to the public.

• @carnage4life Dare Obasanjo on x

  Binance's CEO hints at being worried that Alameda Research, FTX's sister company, is insolvent. So Binance will unwind its FTT token position originally worth $2.1 billion. A reminder that there is no safe harbor in these turbulent times and the crypto collapses may not be over. …

• @kale_abe @kale_abe on x

  I'm not sure this resolves everyone's fears but he definitely doesn't sound like a man who's worried about his balance sheet But then again neither did Do Kwon or Alex Machinsky lol Hopefully FTX is a league above those dudes https://twitter.com/...

• @cobie @cobie on x

  Just tell him that they hedged their OXY, FIDA and MAPS bags by shorting Ethereum so if ETH goes up but those bags go down then they will 1) blow up dramatically and 2) FTT will be made illegal in all territories except the Bahamas

• @alistairmilne Alistair Milne on x

  “Deploying more capital - steady lads” ???? https://twitter.com/...

• @lawmaster @lawmaster on x

  For the sake of transparency, I'm releasing my entire database of all wallets labeled as Alameda. 1. Total on-chain balance decreased by $230M in the last month (47% decrease) 2. Most of the funds were deposited to FTX and Genesis https://twitter.com/...

• @frxresearch @frxresearch on x

  with what money? https://twitter.com/...

• @goingparabolic Jason A. Williams on x

  Scariest message SBF ever tweeted. https://twitter.com/...

• @themooncarl @themooncarl on x

  RUMOR I HEARD: Alameda Research is bankrupt. Source: someone who might know. Breaking now, Binance selling all FTT tokens due to “recent revelations”. What revelations? Is FTX going down? https://twitter.com/...

• @satoshiflipper Satoshi Flipper on x

  imagine thinking FTX is insolvent lmao FUD is usually a great buy signal folks https://twitter.com/...

• @sbf_ftx @sbf_ftx on x

  1) A competitor is trying to go after us with false rumors. FTX is fine. Assets are fine. Details:

• @carolinecapital Caroline on x

  A few notes on the balance sheet info that has been circulating recently: - that specific balance sheet is for a subset of our corporate entities, we have > $10b of assets that aren't reflected there

• @sbf_ftx @sbf_ftx on x

  1) A huge thank you to everyone who has supported us—we're excited to keep climbing together. And especially to those who stay level headed during crazy times. We deeply appreciate it.

• @ftx_official @ftx_official on x

  1: Support updates:

• @sbf_ftx @sbf_ftx on x

  2) A bunch of unfounded rumors have been circulating. You can see https://twitter.com/.... FTX keeps audited financials etc. And, though it slows us down sometimes on product, we're highly regulated.

• @sbf_ftx @sbf_ftx on x

  3) It's heavily regulated, even when that slows us down. We have GAAP audits, with > $1b excess cash. We have a long history of safeguarding client assets, and that remains true today.

• @sbf_ftx @sbf_ftx on x

  2) FTX has enough to cover all client holdings. We don't invest client assets (even in treasuries). We have been processing all withdrawals, and will continue to be. Some details on withdrawal speed: https://twitter.com/... (banks and nodes can be slow)

• @sbf_ftx @sbf_ftx on x

  4) I'd love it, @cz_binance, if we could work together for the ecosystem.

• @bennetttomlin Bennett Tomlin on x

  FTX isn't the balance sheet CoinDesk saw, it was Alameda. Is Alameda fine? https://twitter.com/...

• @ftx_official @ftx_official on x

  3: Stablecoins: processing. Banks are closed for the weekend, though; USD <> stablecoin creations/redemptions might be slower until wires clear tomorrow, especially for some coins/chains.

• @carolinecapital Caroline on x

  - the balance sheet breaks out a few of our biggest long positions; we obviously have hedges that aren't listed - given the tightening in the crypto credit space this year we've returned most of our loans by now

• @patio11 Patrick McKenzie on x

  I'm genuinely confused by this kerfuffle about FTX and Alameda, where a) I model them as the least likely operation in crypto to have blown up due to incompetence and b) they have adopted the reasoned and measured comms strategy used by banks that are factually in crisis. https:/…

• @wublockchain Wu Blockchain on x

  FTX and SBF need to answer three questions: 1. $8 billion liabilities of alameda, how much lent by FTX, how much is credit loan without collateral？ 2. How much of $2.16 billion in “FTT collateral” lent by FTX? 3. Is Money lent to Alameda by FTX from its own funds or others? https…

• @wublockchain Wu Blockchain on x

  Alameda's response to CoinDesk's report: we have > $10b of assets that aren't reflected there; given the tightening in the crypto credit space this year we've returned most of our loans by now; still not disclose how much funds are associated with FTX. https://twitter.com/... htt…