Is There A War Between Stock Market Giants Binance And FTX - 2 minutes read
Binance CEO Changpeng Zhao is not interested in selling his FTX Tokens to Alameda Research in a direct deal. "I think we will remain in the free market," he said on Twitter on Monday. Alameda CEO Caroline Ellison previously indicated that he wanted to acquire all FTX Tokens from CZ at 22 dollars.
Two giants in battle
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It seems that Changpeng Zhao and Binance have no interest at all in the money they may be able to earn from selling the FTX Tokens. At the time of writing, the FTX Token price is at $ 15.83 and is in the red with 28.55 percent for the past 24 hours. That is a rate well below the $22 per token offered by Caroline Ellison.
Bitcoin and Ethereum are also suffering from the war between the two stock market giants and Changpeng Zhao and Sam Bankman-Fried. It looks like Binance smells blood and sees an opportunity to liquidate a major competitor. However, it wouldn't necessarily be good for the industry if a player the size of FTX fell over. That would damage the reputation not only of the general public but also of politicians.
Take your Bitcoin away from the exchanges
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That reminds us of an adage “take your Bitcoin away from the exchanges”. Satoshi Nakamoto once conceived Bitcoin as an independent form of money that you can use without intermediaries. By storing your Bitcoin with an exchange platform, you are in principle still giving the keys to your assets to someone else.
We now see in the FTX drama what the result can be. In principle, nothing is certain yet, but where there is smoke, there is fire. Let's hope that both stock exchanges survive this war and people don't lose their fortunes because of this.
It is striking that since the last halving, more Bitcoin has disappeared from the exchanges for the first time than the other way around. In the previous three halving periods, the number of Bitcoin on the exchanges increased in relative and absolute terms. Since the last halving, the amount of Bitcoin in the exchanges has fallen by 3.85 percent. More and more people are learning to take control of their Bitcoin.