Holding FTT And BNB? It Might Be Time For You To Get Out

Cryptocurrencies such as BNB and FTT have been seeing some downside in the last 24 hours. This follows an eventful weekend that has culminated in what has been a clear intention of crypto exchange Binance to begin dumping its FTT holdings. As a result, there is expected to be a reaction from both FTT and BNB when the exchange completes the dumping of its billion-dollar holdings in FTT. Binance Pulls Out Of FTT Social media was lit afire when Binance CEO Changpeng Zhao (CZ) said that the crypto exchange had decided to liquidate its FTT position. Now, Binance had been an incubator for the FTX exchange and when the exchange exited, it had received $2.1 billion in stablecoins and FTT tokens, which Binance has held until now. Related Reading: What Happens To Dogecoin If Twitter Fails To Implement Crypto Plans? However, according to CZ, the crypto exchange has decided that it is going to sell off its FTT holdings following recent “revelations”. Binance had already begun its sell-offs with almost $600 million worth of FTT tokens that were moved to the exchange to be sold. CZ explained that they were actually looking at ways to sell the tokens while minimizing the impact on the market. The CEO said that the exchange usually just holds tokens that they get, but it had decided to go this way with FTT following what can only be speculated to be glaring red flags about the token or the FTX exchange. It is no surprise that Binance is choos...