Binance to Sell Rest of FTX Token Holdings as Alameda CEO Defends Firm’s Financial Condition

Binance’s CEO, responding to a CoinDesk scoop about trading firm Alameda Research’s balance sheet, tweeted Sunday that he will sell the remaining FTT tokens held on his books that he took on as part of his exit from Alameda sister company FTX last year.

Binance CEO Changpeng Zhao «CZ» did not say how much FTT his firm will sell, but that as part of the cryptocurrency exchange’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash in the form of BUSD (Binance’s stablecoin) and FTT.

Alameda’s CEO, meanwhile, tweeted that her trading firm’s financial condition is stronger than what was reflected by the balance sheet CoinDesk wrote about. She also offered, in a reply to the Binance CEO’s post, to buy his firm’s FTT token holdings for $22 each.

FTX’s native token (FTT) saw extreme volatility amid the back-and-forth Twitter exchange.

Read more: Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet

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