Alameda Research CEO Caroline Ellison announced her readiness to buy the FTX (FTT) utility token from Binance at a price of $22 per unit.
@cz_binance if you’re looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!
— Caroline (@carolinecapital) November 6, 2022
It all started with the recording of Binance CEO Changpeng Zhao. He announced a desire to get rid of FTT, which, together with BUSD, for a total of ~$2.1 billion, was the result of the company’s exit from its portfolio investment in FTX.
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 come to light, we have decided to liquidate any remaining FTT on our books. 1/4
— CZ 🔶 Binance (@cz_binance) November 6, 2022
During the correspondence, Zhao promised to minimize the impact of the transaction on the market and expressed his willingness to complete it within a few months. He emphasized that the decision is not directed against a competitor, as it is important for Binance to maintain the sustainability of the emerging industry. The reason was “recent revelations,” Zhao explained.
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. 2/4
— CZ 🔶 Binance (@cz_binance) November 6, 2022
By “revelations” Binance CEO could mean CoinDesk investigationwhich showed the close interweaving of FTX and Alameda Research.
Recall that journalists gained access to an internal document, from which it followed that out of $14.6 billion in the assets of the latter (as of June 30), $3.66 billion were “unblocked FTTs”, $2.15 billion were “secured FTTs”. These are the first and third assets in terms of the firm’s balance sheet.
