Part 1

The collapse of FTX has rocked the crypto market over the past two weeks. According to a confidential document reviewed by CoinDesk, Alameda had $14.6billion of assets as of June 30. $8 billion was borrowed, with FTT ($2.16 Billion) as collateral. SOL.CEO of Binance explicitly denounces FTX as “unfair play” Following the dump of 23 million, FTTCZ announced that FTT holdings totaling $2.1 Billion would be liquidated due to concerns regarding FTX liquidity. After CZ confirmed that 22 million FTT had been transferred to Binance, the next step was to take place. Binance CEO has acknowledged that FTT was sold. However, this acknowledgement is only partial and does not mean that the sale will be stopped. You can read more details in the article: Alameda CEO, SBF Confirms Drama with BinanceCaroline Ellison, CEO at Alameda Research, stated that the balance sheet information released on Sunday only shows a small portion of the picture. Alameda’s CEO offered to OTC purchase Binance’s FTT at $22. For more information, please read the article: FTX Sees a Soaring Withdrawal Amount. Binance’s withdrawal from FTX led to a community sale of FTT, the exchange’s token. In the last 7 days, the exchange saw more stablecoins than $300 million flow out. The balance is $261 million. CEO Sam Bankman Fried also assured that the exchange situation was still good. FTX Detected Stop Processing Withdrawal Orders According to reports, FTX stopped processing withdrawal orders on November 8 due to the severe liquidity drop and conflict between CZ. According to Etherscan statistics, the latest outbound transaction by FTX on Ethereum occurred at 11:37 a.m. EDT. The situation is identical on the Tron, Solana and Solana blockchains. FTX is coming to an agreement to be acquired by Binance CZ. This is amid panic that has raised concerns about Sam Bankman-Fried’s crypto exchange slowly collapsing. Two industry giants in the exchange industry signed a non-binding statement of intent. You can read the full article here: SBF Apologizes to Investors. Following the CZ and FTX buyback agreement, Sam Bankman Fried (SBF), apologized to investors. He also clarified the order of priority for the exchange when the incident occurred. SBF states that the company’s priority was protecting “customers” and the industry. Binance cancels the FTX acquisition agreement. CZ deemed FTX out of control and cancelled its offer to purchase it. After determining that FTX was out of control, Binance cancelled the FTX Acquisition Agreement. We encourage you to do your own research before investing.Join us to keep track of news: coincu.comMayCoincu NewsContentsTags: AlamedabankruptcyBinanceCZFTXSBFwithdrawal