Back to collectionBinance’s FTT exit turns argument into a run
Doubts raised by the balance sheet article had been growing in industry chats. Binance announced that it would sell all the FTT it held, citing “risk management.” The previous day’s argument between bulls and bears now had an actual market move behind it; watching meant more than following a price.
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Doubts raised by the balance sheet article had been growing in industry chats. The studio remained busy with its game update, while the community’s arguments over FTT were still mostly conjecture. Sunday’s announcement forced the Night Watchman to reconsider which questions could be brushed off as casual talk.
Binance announced that it would sell all the FTT it held, citing “risk management.” FTT plunged and a run on FTX began. The two giants traded messages from a distance while industry chats watched. When some members treated the sale announcement as proof that every outcome was settled, the Night Watchman asked them to distinguish the announced action, the mounting withdrawal pressure and rumors that still had no answer.
The previous day’s argument between bulls and bears now had an actual market move behind it; watching meant more than following a price. The Night Watchman planned to send questions about withdrawals and asset safety to people able to check them, while leaving room for game support. Whether the studio needed to change its own plans was still unclear.