Today’s update is all about FTX, Alameda and the rumors of ins | 🔸️ Bitcoin News
Today’s update is all about FTX, Alameda and the rumors of insolvency
1. Binance will be offloading their FTT ($2.1B worth) tokens slowly (TWAP) due to low liquidity 2. CT speculates that this would cause FTT to spiral down (Like Luna) if not managed well by FTX 3. Alameda is heavily borrowed against FTT tokens (Leveraged) and can cause margin calls on their positions if price goes below $22 4. Alameda’s CEO posts that they have enough liquidity that is not mentioned in the rumors and are willing to buy Binance’s FTT at $22 5. Despite this, there are missing details on FTT marketcap and still shows that alameda and ftx wont be able to carry the offloading of Binance 6. FUD is spreading across the FTT token that if it drops, a death spiral may again occur
