The crypto exchange FTX run by Sam Bankman-Fried, experienced significant withdrawals over the weekend. Bankman-Fried acknowledged the activity on Twitter yesterday. The main trigger was likely a series of tweets by Binance CEO Changpeng Zhao (CZ). He didn’t just say he planned to sell Binance’s FTT token (the FTX token) holdings but that it was “post-exit risk management, learning from LUNA.” The mere mention of Terra’s LUNA coin – the one that ignited the crypto crash in May – seems to have exacerbated the matter.
Acknowledging the withdrawals, yesterday Bankman-Fried wrote on Twitter, “We’ve already processed billions of dollars of deposits/withdrawals today; we’ll keep going… We’re hitting node rate capacity, will keep going.”
He continued, “We’re grateful to those who stay; and when this blows over we’ll welcome everyone else back.”
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