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© Reuters Digital asset FTT plummets 76% after Binance purchase of FTX
New York, Nov 8 (.).- The digital asset FTT of the cryptocurrency exchange platform FTX plummeted 76% this Tuesday a few hours after Binance announced that it is going to buy that company, which is experiencing liquidity problems.
Binance founder Changpeng Zhao said today that he had signed an agreement to acquire FTX’s business outside of the US after his manager, San Bankman-Fried, asked him for help, warning that FTT, the Binance token platform, it would be very volatile.
According to the CoinBase portal, around 6:20 p.m. local time in New York, the FTT was exchanged at $5.38, 75.62% less than the previous day, when its value was around $22.
Binance’s announcement has sparked rumors about the solvency of FTX and other companies linked to the latter that would have a large volume of FTT on their balance sheet, which has affected their price.
The , the best-known and most valuable cryptocurrency, which fell around 10% at this time, standing at about 18,460 dollars, and the ether, the second by value, which fell almost 16%, have also been dragged to the $1,318.
Fears about the solvency of FTX have grown since Zhao on Sunday showed his distrust of the platform’s digital currency and warned that he was going to liquidate his position in FTT after already withdrawing $2.1 billion from the asset last year.
The specialized media CNBC points out that this morning FTX momentarily suspended the withdrawal of money from its platform, a movement similar to that of other cryptocurrency companies that have declared bankruptcy this year, such as Celsius, Voyager Digital and Three Arrows.
Bankman-Fried, which operates FTX from the Bahamas, where the platform is based, had precisely become a prominent figure in the sector in recent months by acquiring bankrupt companies.
“This is a huge setback for many crypto investors who viewed SBF (Bankman-Field) as a white knight and one of the leaders in the space that was supposed to emerge once we get through this crypto winter,” analyst Ed Moya said in a note. , from the firm Oanda.
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