FTX Sees Native Token FTT Tumble by 15% Following Binance Selloff

Popular crypto exchange FTX has witnessed a massive dip in the price of their native token after an increase in withdrawals kickstarted by another top crypto exchange Binance, who planned to sell off all their FTX tokens.

According to data from CoinGecko, the price of the FTX native token, FTT, has tumbled by 15% to $18 in Singapore.
Prior to the tumble, FTX CEO Bankman-Fried’s trading house Alameda Research had offered to buy all of Binance’s FTT tokens at $22.
The offer had come after Binance CEO Changpeng Zhao (CZ) on Sunday had offered to sell the crypto firm’s roughly $530 million holding of …

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