Changpeng “CZ” Zhao, co-founder and chair of prominent digital currency exchange Binance seems indifferent about Alameda Research’s suggestion to purchase its entire FTX coin shares.
The sole head of Alameda Research Caroline Ellison had proposed a buyout on Binance’s FTT holdings right after Binance disclosed that it would be selling off its entire FTT asset holdings as a “post-exit risk management” strategy on Sunday.
A November 7th tweet had directed a question to Binance, asking if the protocol would consent to Ellison’s proposition to acquire all of Binance’s FTT holdings at a $22 rate for each token.
CmZhao, however, responded that the protocol may just prefer to remain “in the free market.”
Currently, there have been raised worries about Alameda’s financial position as a recent Nasen record showed that stablecoin valued at around $451 million has left its sister company FTX wallet.
Many speculate that Zhao’s plan to sell out its entire FTT tokens, as a management strategy, may be the reason behind this significant withdrawal.
Zhao cited that Binance’s recent move does not imply a battle against FTX or its CEO Bankman-Fried as more time is being focused on building rather than disputes.
FTT is recorded to have seen a 29.5% plunge in its value within the last day. Its market price declined from $22 to about $15.40.
