FTT briefly broke $2.5, Binance adjusted FTT price precision, CEO Zhao Changpeng: Binance has never shouldered debt
Table of Contents
Table of Contents
Don't Open an Exchange, Don't Use Leverage
CZ tweeted that there are two things to learn from the liquidity crisis at FTX:
1. Never use your own issued coins as collateral.
2. If you run a crypto business, do not excessively leverage capital; keep a large reserve of funds.
He pointed out:
Binance has never used BNB as collateral and has never taken on debt.
Two big lessons:
1: Never use a token you created as collateral.
2: Don’t borrow if you run a crypto business. Don't use capital "efficiently". Have a large reserve.
Binance has never used BNB for collateral, and we have never taken on debt.
Stay #SAFU.🙏
— CZ 🔶 Binance (@cz_binance) November 8, 2022
Binance Lowers FTT Minimum Price Precision
According to a Binance announcement, the adjustments to various trading pairs are as follows:
After CZ revealed the complete acquisition of FTX, BNB became one of the top ten cryptocurrencies with the smallest 24-hour decline, while FTT briefly fell below $2.50, currently back at $5.90, still down 70% since the early morning.
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