An expert resolves the controversy.. This is the optimal number of times to wash hair

 

Binance Set to Acquire FTX - That's the amazing news that hit the cryptocurrency world just moments ago.

Changpeng Zhao - or CZ as he is known - tweeted that Binance has asked for help from FTX as it seeks to stem the bleeding on the exchange after Coindesk viewed documents earlier this week which indicated that sister company Alameda has held the FTT token and there isn't much in its balance sheet.

Fears of FTX bankruptcy began to circulate.

Binance has announced that it intends to sell its stake in FTT, despite its claim that the move was not related to balance sheet issues.

This started an old fashioned run on the exchange, with the price of the FTT token dropping.

Earlier today, the FTX token was trading at $14.58, down 30%.

Now, after a brief rally in the wake of the news, FTT continues its decline, down more than 57% on the day with the coin now trading below the $10 mark.

Sam Bankman-Fried, owner of FTX and Alameda, initially fought back against allegations that FTX was insolvent. On November 7, he tweeted:

This was followed by Carolyn Ellison, CEO of Alameda, saying that the company would take FTX tokens out of Binance's hands for $22 a piece.

However, that attempt to set a minimum price failed, when the price fell below the bid price today.

This seems to have led to a cash crunch in the SBF empire, forcing the founder to reach out to a rival exchange for help, if CZ's tweet is the correct display of the latest developments.

Whatever the exact truth of the matter, the tweet of Czechoslovakia led to a sharp reversal in cryptocurrency prices, however, this was short-lived and prices continued to sell again.

Bitcoin and Ethereum Record Big Losses

At the time of writing, Bitcoin is down 9.1% to trade at $18,959, and Ethereum is following suit as it has lost more than 12% in value since yesterday.

Unsurprisingly, BNP is the main beneficiary. The exchange coin was up 0.5% at $336 while the vast majority of altcoins were sold.

Both FTT and BNB provide discounts and other benefits to traders on the respective exchanges.

BNB is highly volatile and this traders’ currency could benefit

Traders may also want to consider buying the D2T token right now - this is a different type of currency that a trader is focused on.

Instead of being an exchange currency for discount trading, it provides real-time information and signals to traders so that they can get more profitable positions.

The coin is in pre-sale now and has already raised $5.7 million from hungry investors who have been attracted by its state-of-the-art dashboard feature and unique scoring system for new coins being introduced to the market.

The ecosystem also includes social trading, social sentiment analysis, and professional backtesting - it's the cryptocurrency Bloomberg station we've all been waiting for.