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Binance CEO Says He’s Not Trying to Fight FTX

Mon, 11/07/2022 - 20:25
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Alex Dovbnya
Binance CEO Changpeng Zhao has spoken out about the feud with rival FTX
Binance CEO Says He’s Not Trying to Fight FTX
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Binance CEO Changpeng Zhao recently took to Twitter to clarify that he is not actually fighting rival FTX. 

The head of the largest cryptocurrency exchange insists that he spends time building instead of feuding. “I suggest others do the same. Back to building,” he said.   

Zhao also took aim at conspiracy theories about him allegedly orchestrating the recent FTX controversy.

As reported by U.Today, speculation started to emerge about the alleged financial troubles of FTX-linked trading firm Alameda Research. 

As reported by U.Today, Zhao confirmed that Binance had decided to sell its FTX (FTT) tokens due to recent revelations. The sale was first spotted by the Whale Alert Twitter account.    

Related
Fight Between FTX and Binance Escalates

Zhao explains that he was compelled to announce the liquidation on Twitter because he wanted to be transparent.  

In a separate tweet, the Binance CEO suggested that he would be willing to buy $580 million of BNB and then do a swap for the FTT.

Earlier today, FTX boss Sam Bankman-Fried said that its rival was spreading "false rumors." At the same time, Bankman-Fried signaled his willingness to work with Binance for the sake of the industry. 

Meanwhile, FTX co-CEO Ryan Salame tweeted that the Binance boss was "literally the worst." 

The FTT token is currently trading at $22.27, according to CoinMarketCap data. 

In the meantime, Solana (SOL) is trading at $32.26 after losing 5% over the past 24 hours.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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