Binance resumes FTT deposits
The cryptocurrency exchange Binance halted deposits in the FTX (FTT) utility tokens after a large tranche of the asset was released outside the unlock schedule, according to chief executive Changpeng Zhao.
.@binance has stopped FTT deposit, to prevent potential of questionable additional supplies affecting the market. We will monitor the situation.
Also encourage other exchanges to do the same, just to be safe. Let’s not have another GALA.
— CZ 🔶 Binance (@cz_binance) November 13, 2022
«Binance stopped deposits in FTT to prevent possible influence on the market of dubious additional supplies. We will monitor the situation. We call on other exchanges to do the same, simply for safety. Let’s not have another GALA», he wrote.
Binance has resumed deposits in FTT tokens, acknowledging that the unlock schedule had not been breached. According to the statement, fund movements were likely tied to ‘internal consolidation of FTX assets’.
We are reaching out to the current FTX team for further clarification. #Binance has since reopened deposits of $FTT.
Thank you and sorry for any inconvenience.
— Binance (@binance) November 14, 2022
FTT tokens were issued on the premine. For FTX staff and other affiliated holders there is an unlock schedule, according to which the project team may freely dispose of the assets starting from 1 May 2022.
Changpeng Zhao noted that from the contract FTX: Deployer ‘they moved all remaining FTT supply worth $400 million’. According to the yEarn Finance developer known as banteg, this refers to assets Alameda Research had previously sent to the address.
yeah they were received from alameda previouslyhttps://t.co/kDC0QNywtx
— banteg (@bantg) November 13, 2022
The head of Binance supported by Justin Sun. He stated that Huobi would also suspend deposits in FTT. In October 2022 the founder of Tron joined the exchange’s advisory council.
Earlier ForkLog reported that unknown actors withdrew from FTX wallets over $400 million in digital assets. According to some estimates, the total amount moved reached $600 million.
If you’re wondering WTF happened overnight…
• $600m left FTXs wallet
• FTX’s telegram said it was a hack
• The Site/App are infected
• Blackhat theft at ~450m
• FTX rescued ~200m
• soBTC on Solana has lost peg (-77%)
• and more.Hacker or inside job? 🤔
— Edgy — The DeFi Edge 🗡️ (@thedefiedge) November 12, 2022
As previously reported, the FTX Group filed for bankruptcy, and the company’s chief executive Sam Bankman-Fried resigned.
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