3min chapter

Crypto Critics' Corner cover image

FTX and Alameda are dead, long live cryptocurrency

Crypto Critics' Corner

CHAPTER

CZ Announced He Was Going to Liquidate the FTT Token Position

CZ announced he was going to be liquidating the FTT token position. He had this massive position that he still had from back when Binance was an equity investor in FTX. And so what ended up happening is he started dumping and Alameda didn't have enough liquidity to keep it above 22. It ended up plummeting to it was like, it dropped like what to like $14 or something today.

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