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News

Binance Has Stopped FTT Deposit

November 13, 2022 - Around 2 mins mins to read
After around $400 million worth of the tokens were distributed ahead of schedule, cryptocurrency exchange Binance banned FTT deposits on Sunday.
Binance Has Stopped FTT Deposit

The release of huge quantities of FTT tokens occurs regularly according to a schedule for unlocking the tokens. But on Sunday, without prior notice or communication from FTX or connected parties, the tokens were distributed early.

According to blockchain statistics, there were more than 195.8 million FTT tokens issued. The primary deployer address issued these.

Binance CEO Changpeng Zhao noted on Twitter:

“Binance has stopped FTT deposit, to prevent potential of questionable additional supplies affecting the market. Also encourage other exchanges to do the same.”

(This tweet has now been deleted on Twitter)

Supported by Justin Sun, soon later, Huobi Global made the same move.

https://twitter.com/justinsuntron/status/1591692005692026881

Currently, the FTX crisis is still going on, the community suspects this exchange is trying to keep user funds after locking withdrawals from the exchange.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Binance Has Stopped FTT Deposit

After around $400 million worth of the tokens were distributed ahead of schedule, cryptocurrency exchange Binance banned FTT deposits on Sunday.
Binance Has Stopped FTT Deposit

The release of huge quantities of FTT tokens occurs regularly according to a schedule for unlocking the tokens. But on Sunday, without prior notice or communication from FTX or connected parties, the tokens were distributed early.

According to blockchain statistics, there were more than 195.8 million FTT tokens issued. The primary deployer address issued these.

Binance CEO Changpeng Zhao noted on Twitter:

“Binance has stopped FTT deposit, to prevent potential of questionable additional supplies affecting the market. Also encourage other exchanges to do the same.”

(This tweet has now been deleted on Twitter)

Supported by Justin Sun, soon later, Huobi Global made the same move.

https://twitter.com/justinsuntron/status/1591692005692026881

Currently, the FTX crisis is still going on, the community suspects this exchange is trying to keep user funds after locking withdrawals from the exchange.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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