{"id":12669,"date":"2022-11-15T13:40:57","date_gmt":"2022-11-15T13:40:57","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/11\/15\/lawmakers-grill-binance-over-ftt-tokens-selloff-that-triggered-ftx-collapse\/"},"modified":"2022-11-15T13:40:58","modified_gmt":"2022-11-15T13:40:58","slug":"lawmakers-grill-binance-over-ftt-tokens-selloff-that-triggered-ftx-collapse","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/11\/15\/lawmakers-grill-binance-over-ftt-tokens-selloff-that-triggered-ftx-collapse\/","title":{"rendered":"Lawmakers Grill Binance Over FTT Tokens Selloff That Triggered FTX Collapse"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>\n<iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/lawmakers-grill-binance-over-ftt-tokens-selloff-that-triggered-ftx-collapse\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p><a href=\"https:\/\/coingape.com\/glossary\/crypto-exchange-2\/\" target=\"_blank\" rel=\"noopener\">Crypto exchange<\/a> Binance on Tuesday mentioned it agreed to submit proof associated to the proposed FTX acquisition deal and choices to liquidate FTT token holdings to the UK Parliament\u2019s Treasury Committee. The crypto change will seem as a witness in FTX group\u2019s crypto property investigation.<\/p>\n<h2>Binance Submitting Evidence On FTX Deal, FTT Selloff<\/h2>\n<p>Binance has agreed to submit proof that the FTX collapse was not triggered by Binance\u2019s determination to liquidate $580 million price of FTT tokens, <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/emilyjnicolle\/status\/1592461296989274112\" target=\"_blank\">reported<\/a> Bloomberg on November 15.<\/p>\n<p>Daniel Trinder, Binance\u2019s vp of presidency affairs in Europe, was grilled by lawmakers on Monday over the <a href=\"https:\/\/coingape.com\/breaking-binance-to-dump-ftx-ftt-token-holdings\/\" target=\"_blank\" rel=\"noopener\">decision to liquidate $580 million worth of FTX Token<\/a> (FTT). Thus, the UK Parliament\u2019s Treasury Committee seeks proof about Binance\u2019s decision-making behind promoting FTT tokens and due diligence carried out for the <a href=\"https:\/\/coingape.com\/breaking-binance-ceo-cz-announces-ftx-acquisition-to-save-liquidity-crunch\/\" target=\"_blank\" rel=\"noopener\">potential acquisition of FTX<\/a>.<\/p>\n<p>After Binance determined to promote FTT tokens amid the revelations surrounding <a href=\"https:\/\/coingape.com\/tag\/alameda-research\" target=\"_blank\" rel=\"noopener\">Alameda Research<\/a> and FTX, buying and selling volumes for the token jumped over a yr excessive. It additionally triggered the chain of occasions that led to <a href=\"https:\/\/coingape.com\/breaking-ftx-exchange-files-for-bankruptcy\/\" target=\"_blank\" rel=\"noopener\">FTX filing for bankruptcy<\/a> because it began going through a liquidity crunch.<\/p>\n<p>UK Parliament\u2019s Treasury Committee Chair Harriett Baldwin mentioned it expects proof together with inner correspondence and data about potential market penalties of Binance\u2019s FTT divestment.<\/p>\n<p>Moreover, Trinder defined that Binance by no means supposed the collapse of rival crypto change FTX, the intention was to guard its personal customers. He additionally promised to ship proof by November 15 itself. However, Binance might edit some info as a consequence of authorized and safety functions.<\/p>\n<p>The correspondence between FTX and Binance amid the liquidity crunch will reveal if Binance was conscious that it might impression the crypto market.<\/p>\n<h2>Sam Bankman-Fried Cryptic Tweets<\/h2>\n<p>Meanwhile, Sam Bankman-Fried continues to <a href=\"https:\/\/coingape.com\/crypto-twitter-reacts-to-sam-bankman-frieds-faulty-memory-tweet\/\" target=\"_blank\" rel=\"noopener\">post single-word tweets<\/a> that Crypto Twitter asserts that he&#8217;s overlaying older deleted tweets with new tweets to forestall them from monitoring by monitoring bots.<\/p>\n<p>In a current <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1592494814599479297\" target=\"_blank\">tweet<\/a>, he tries to elucidate what led to the collapse of FTX and present plans amid the chapter proceedings.<\/p>\n<blockquote>\n<p>\u201cI\u2019ll get to what happened. But for now, let\u2019s talk about where we are today.\u201d<\/p>\n<\/blockquote>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA127395\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nVarinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his information about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency trade for a considerable interval and is presently overlaying all the newest updates and developments within the crypto trade.\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\"\/><\/noscript> <\/div>\n<\/div><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD127395\">\n<p> The offered content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn&#8217;t maintain any accountability on your private monetary loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/lawmakers-grill-binance-over-ftt-tokens-selloff-that-triggered-ftx-collapse\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Crypto exchange Binance on Tuesday mentioned it agreed to submit proof associated to the proposed FTX acquisition deal and choices to liquidate FTT token holdings to the UK Parliament\u2019s Treasury Committee. The crypto change will seem as a witness in FTX group\u2019s crypto property investigation. Binance Submitting Evidence On FTX Deal, FTT Selloff Binance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[14],"tags":[192,1037,982,887,5156,647,1210,345,976],"class_list":["post-12669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-binance","tag-collapse","tag-ftt","tag-ftx","tag-grill","tag-lawmakers","tag-selloff","tag-tokens","tag-triggered","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=12669"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12669\/revisions"}],"predecessor-version":[{"id":12670,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/12669\/revisions\/12670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/12671"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=12669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=12669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/i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