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Thursday, December 8, 2022
HomeCryptocurrencySurprisingly, Binance Labs Nonetheless Holds FTT, CZ Says

Surprisingly, Binance Labs Nonetheless Holds FTT, CZ Says

Contents

  • “All rekt besides Binance”
  • Will Binance CEO promote FTT tokens on OTC?

Nameless cryptocurrency analyst @frxresearch has shared your entire listing of entities who invested in FTX within the seed funding spherical in addition to within the A, B and C funding campaigns. This is what makes one agency from the listing particular.

“All rekt besides Binance”

It appears that evidently the listing printed by @frxresearch consists of all top-tier VCs and institutional traders. As FTX Token (FTT) is down 98% from its all-time excessive, nearly all of them should be underwater.

The researcher added that every one the traders on the listing should be “rekt,” which is the same as “wrecked” in damaged English. This slang phrase is utilized by avid gamers as a attribute of shedding gamers in PvP battles, whereas merchants and traders use it for liquidated actors who misplaced cash.

Changpeng Zhao, CEO of Binance, took to Twitter to touch upon @frxresearch’s estimation that Binance Labs (a VC arm of Binance that backed FTX within the Sequence A spherical) nonetheless holds its place in FTX Token:

We nonetheless have a bag of FTT

As lined by U.At the moment beforehand, one of many corporations on the listing, Galois Capital, misplaced over 50% of its property below administration (AUM) as a result of FTX collapse. In Q1, 2022, it was one of many few VC corporations to keep away from shedding funds within the LUNA/UST drama.

Will Binance CEO promote FTT tokens on OTC?

Travis Kling, founding father of Ikigai Asset Administration, admitted that almost all of his agency’s funds had been saved on FTX and can’t be recovered.

See also  Lots of of Thousands and thousands of XRP Transferred as XRP Worth up 6.53%

On the similar time, Binance’s CZ claimed that he doesn’t take into account promoting FTT in any manner. He’s positive that such painful occasions don’t look uncommon to him, as “you win some, you lose some.”

His followers have additionally requested him about the potential for promoting FTX Tokens (FTT) by way of over-the-counter devices (OTC). CZ answered that it isn’t an choice for Binance Labs:

Do not suppose it might have labored. There will probably be all sort of excuses/issues anyway. And I favor to not take care of fraudsters

5 days in the past, Zhao said that his staff has by no means shorted its FTT positions and stopped promoting the token instantly after a dialog with Sam Bankman-Fried.

BitcoinMasterNews

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