FTX’s Chief Sam Bankman-Fried Plays Down Bankruptcy Talks As Binance Liquidates FTT Token

The CEO of crypto exchange FTX Sam Bankman-Fried has maintained that "FTX is fine" and that all "assets are fine" in response to speculations that his exchange might go insolvent.

Bankman-Fried maintained that "FTX has enough to cover all client holdings," he added. "We don’t invest client assets (even in Treasuries). We have been processing all withdrawals, and will continue to be."

A CoinDesk report surfaced last week revealing the balance sheet of FTX sister company Alameda Research was loaded with FTX’s native exchange token FTT.

That led to a public war of words between Alameda CEO Caroline Ellison and Binance CEO Changpeng Zhao (CZ), also a sizable owner of the FTT token.

CZ said his exchange would begin liquidating any remaining FTT it held on its books.

Ellison retorted saying Alameda stood ready to purchase for $22 each (roughly the price at the time) any amount of FTT Binance wanted to unload.

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