FTX CEO Sam Bankman-Fried tweeted Monday, claiming that “FTX is fine. Assets are fine.” However, FTT, the native token of the crypto exchange FTX, its price has slumped over 24 % over the 24 hours; dropped over 6% during the intraday of Hong Kong time.
“FTX has enough to cover all client holdings. We don’t invest in client assets (even in treasuries). We have been processing all withdrawals and will continue to be,” said Bankman-Fried on his Twitter, trying to boost the confidence towards his investors as the speculation mounted over the weekend about the solvency of billionaire Bankman-Fried’s FTX crypto exchange.
The CEO made a move after he disclosed the health of FTX’s balance sheet—a warning he has learned from the Terra luna meltdown.
On Monday, Binance CEO Changpeng Zhao shocked the crypto community with the exchange’s move to liquidate its holdings of FTX’s cryptocurrency FTT, a rival to Binance’s own much larger…
