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FTT has plummeted 20% in the past two hours, with rumors circulating last night that the negotiations between the two parties involved in the OTC trading remain unresolved.

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FTT has plummeted 20% in the past two hours, with rumors circulating last night that the negotiations between the two parties involved in the OTC trading remain unresolved.

The ongoing battle between FTX and Binance continues to escalate. On the morning of November 8, FTT plummeted from the $22 level to a low of $17.04, significantly falling below the promised $22 OTC price by Alameda CEO.

Did the suspected reconciliation between YANHE and OTC succeed last night?

FTX founder SBF called on Binance founder Zhao Changpeng on the evening of 11/7 to jointly build the ecosystem. He stated that a competitor is trying to spread rumors to attack us. But FTX is doing well, and the assets are too. FTX can fully support user assets and will not use user assets for investment, not even in national debt. We will continue to process withdrawals. He mentioned that FTX is subject to strict regulation, has audited financial statements according to GAAP standards, and has over $1 billion in cash reserves. He also urged Binance founder Zhao Changpeng to cooperate in this ecosystem.

It was reported that an OTC transaction of over $40 million was completed that night, and The Block VP Larry Cermak speculated that the likelihood of the two parties reaching a deal was high.

However, CZ denied that there was any OTC transaction, indicating that the battle is not over yet: