Does Binance own FTX?

Binance holds about 23 million FTT tokens, worth about $529 million Following the news, FTT, the native token of FTX, fell 12% in the past 24 hours. FTX's insolvency rumor began when CoinDesk revealed in an article last week that Alameda Research's balance sheet was stacked with FTX's native exchange token, FTT.

What happened to Binance's FTT tokens?

Binance CEO Zhao Changpeng said on Twitter on Sunday that he’d decided to sell all of the company’s FTT tokens, worth about $529 million at the time. The announcement caused FTT’s price to drop and triggered unease in wider crypto markets, with Solana, a token backed by FTX, down 7.1%.

What is FTT (FTX)?

FTT is the coin of billionaire Sam Bankman-Fried’s FTX, the rival cryptocurrency exchange that Binance used to hold a minority stake in. When Binance exited that investment last year, it received $2.1 billion in Binance USD and FTT coins, the remainder of which it has decided to unload, Zhao said, citing “recent revelations that came to light.”

How to buy FTX token (FTT)?

Choose how you want to buy the FTX Token (FTT) asset. Click on the “Buy Crypto” link on the top left of the Binance website navigation, which will show the available options in your country. For better coin compatibility, you consider buying a stablecoin like USDT or BUSD first, and then use that coin to buy FTX Token (FTT).