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Tag Archives: Binance

Binance Will Stay in the Free Market, Says CZ After Rejecting Alameda’s Offer

Fears of a Terra-style debacle have seeped into the crypto market as the Binance-FTX drama continues. Binance CEO CZ made headlines by announcing plans to liquidate entire FTT holdings gradually to avoid any market impact. His crypto exchange had already exited from FTX equity last year. While CZ clarified that the move should not be taken as an attack on a competitor, this was enough to cause a slew of dumping in the market, and the FTT token shed over 20%. To minimize the...

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$640 Million Liquidated Amid Binance-FTX Fiasco, FTT Drops Below $10

Over $640 million in trades have been liquidated from crypto markets in the aftermath of FTX’s drama with Binance. Markets experienced a brief rally after Binance announced its intention to buy FTX, but have since retraced while FTX Token continues to dump. According to Coinglass, over $640 million in liquidations have taken place in the last 24 hours, with $182 million liquidated in the past hour alone.  The largest single liquidation took place on BitMEX on a Bitcoin / US...

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SBF Breaks Silence, Confirms Binance Will Acquire FTX

Amid massive uncertainty surrounding FTX and its ability to process withdrawals, the exchange’s CEO Sam Bankman-Fried (SBF) has announced that the company is being sold to Binance.  Binance CEO Changpeng Zhao (CZ) has also confirmed the news, stating that Binance will help FTX navigate its current “liquidity crunch.” FTX Comes Full Circle In a tweet thread on Tuesday, SBF told followers that things had come “full circle,” and that Binance would go down as FTX’s first and last...

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FTX Stablecoin Reserves Dwindle After Binance Promises to Sell FTT

Crypto exchange FTX is rapidly losing stablecoin liquidity after Binance CEO Changpeng Zhao (CZ) announced his company’s full exit from its FTT position on Sunday. ETH withdrawals from FTX have also tapped an all-time high, possibly signaling worry among depositors about the safety of their funds.  FTX Withdrawal Wave According to a tweet thread from CryptoQuant CEO Ki Young Ju,  FTX currently has $104.9 million worth of stablecoins in its on-chain reserves. Yesterday, he...

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Binance Launches Oracle Network for BNB Chain Ecosystem

On Oct. 26, crypto giant Binance announced Binance Oracle, a new service that will source, verify, and feed off-chain data to smart contracts running on the BNB Chain. The company claims that the Oracles will provide a “more reliable, secure, and accurate data sourcing solution for smart contracts.” The new service, which launches this month, will enable existing Web3 dApps and BNB Chain partners to access oracle data sources. The company confirmed that more than ten projects...

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