FTT briefly broke $2.5, Binance adjusted FTT price precision, CEO Zhao Changpeng: Binance has never shouldered debt

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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.