Fears of Terra Luna style collapse of FTX native token FTT as Binance liquidates its holdings

Rumours

Crytocurrency / Rumours 31 Views

FTX’s native token FTT has experienced a volatile weekend as Binance began liquidating its tokens due to “recent revelations that have came [sic] to light,” according to Binance CEO CZ. The FTT token is down 9.4% on the day as of press time.

ftx ftt
FTT Token

The local bottom for Nov. 6, however, was as low as $12.42, down 15% since Saturday, Nov. 5. FTX uses the FTT as collateral for several loans leading to fears of another major crypto meltdown should FTX receive a large margin call.

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