| 15 April 2024, Monday |

Binance halts FTT deposits, CEO says

Changpeng Zhao, the chief executive of cryptocurrency exchange Binance, announced on Sunday that the company no longer accepts deposits of FTX’s FTT token on its platform and urged other competing exchanges to follow suit.

The crypto exchange FTX, which declared bankruptcy on Friday, stated it had discovered unauthorized access on Saturday. Analysts also claimed that hundreds of millions of dollars’ worth of assets had been removed from the network under “strange circumstances.”

“(Binance) has stopped FTT deposit, to prevent potential of questionable additional supplies affecting the market. We will monitor the situation,” CEO Zhao said in a tweet.

“FTT contract deployers moved all remaining FTT supply worth $400 million, which should be unlocked in batches. Not too sure what’s going on,” he added, in another tweet.

  • Reuters