Beef Analytics

2022-11-09 21:19:17 CZ wrote a letter to Binance employees and users.

The CEO of Binance called users to refrain from trading FTT.

CZ said that when Bankman-Fried asked him for help, Zhao thought that he wanted to do an OTC deal. He added that FTX going down is not good for anyone in the industry.

Binance is highly unlikely to go through with its proposed acquisition of struggling rival FTX after less than a day of reviewing the company, according to CoinDesk.

https://twitter.com/cz_binance/status/1590351182513729544
https://www.coindesk.com/business/2022/11/09/binance-is-strongly-leaning-toward-scrapping-ftx-rescue-takeover-after-first-glance-at-books-source/

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2022-11-09 16:40:33 CZ has said that there are two big lessons:

1: Never use a token you created as collateral.

2: Don’t borrow if you run a crypto business. Don't use capital "efficiently". Have a large reserve.

Binance has never used BNB for collateral, and it has never taken on debt.

https://twitter.com/cz_binance/status/1590103159506341888

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2022-11-09 07:42:42 According to Binance CEO, all crypto exchanges should do merkle-tree proof-of-reserves. And Binance will start to do proof-of-reserves soon.

https://twitter.com/cz_binance/status/1590055819416330240

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2022-11-08 21:12:10 Binance acquires FTX

CZ: "To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch."
https://twitter.com/cz_binance/status/1590013613586411520

"Binance has the discretion to pull out from the deal at any time," he added.

Sam: "We have come to an agreement on a strategic transaction with Binance for FTX.com."
https://twitter.com/SBF_FTX/status/1590012126701441025

"Note that FTX.us and Binance.us–two separate companies–are not currently impacted by this. FTX.us’s withdrawals are and have been live, is fully backed 1:1, and operating normally," continued FTX founder.

After the news, BNB increased by ~10%. FTT price dropped to $12.

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2022-11-08 11:02:42 FTT did not stay at yesterday's level of $22 and today fell by more than 20%.

CZ tweeted that he did not conduct an OTC deal to sell FTT tokens.
https://twitter.com/cz_binance/status/1589697567209971713

https://dropstab.com/ftx-token

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2022-11-07 08:49:14 Binance decided to sell FTT tokens.

CZ tweeted: "As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. We will try to do so in a way that minimizes market impact. Due to market conditions and limited liquidity, we expect this will take a few months to complete."
https://twitter.com/cz_binance/status/1589283421704290306

"Liquidating our FTT is just post-exit risk management, learning from LUNA," he added.
https://twitter.com/cz_binance/status/1589374530413215744

Alameda’s CEO offered to buy these FTT tokens at $22.
https://twitter.com/carolinecapital/status/1589287457975304193

Recently, CoinDesk published information that Alameda Research owned $5.8 billion of FTT tokens (including FTT tokens pledged as collateral) as of June 30. Alameda was revealed to have $14.6 billion in assets and $8 billion in liabilities, includ... Open / Comment

2022-11-03 15:44:10 Binance BNB Vault Will Participate in Hashflow (HFT) Launchpool
https://www.binance.com/en/support/announcement/74d7f1cedee74e27963979fba26bcf17

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2022-10-31 12:59:25 Introducing Hashflow (HFT) on Binance Launchpool! Farm HFT by Staking BNB and BUSD
https://www.binance.com/en/support/announcement/73d44e64598c446cb4ec2f83b776c2f0

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2022-10-28 07:21:54 Binance Will List Osmosis (OSMO) in the Innovation Zone
https://www.binance.com/en/support/announcement/0c5d8ebc2ce1441ebb86c350a9950b65

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2022-10-27 10:55:25 Binance Launches Its Bahrain Platform
https://www.binance.com/en/support/announcement/80aa2cd8d2a34474bf4064c00d61cc4f

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