Hide the dust under a Persian rug – If you didn’t go on a weekend away from the cryptosphere, you definitely participated the immense drama between Binance and FTX. The two giants, competing for the world’s largest cryptocurrency exchange title, are squabbling over a history of holdings in FTT, the native token of the FTX platform. But the information that went under the radar could shed new light on this whole affair. Binance would activate a counter the fire forget a “Iranian affair” embarrassing enough? On his side, Sam Bankman-Fried (SBF), the CEO of FTX, wants to be reassuring.
Binance tries to get out of its relations with Iran
In recent years, Iran has suffered various embargoes from the United States, which greatly undermine its international trade. Thus, faced with so many difficulties in the context of its import-export, the country has including bitcoin interest (BTC) and cryptocurrencies for circumvent sanctions.
In fact, since the summer of 2022, the Binance cryptocurrency exchange has been accused of failing to comply to the letter US sanctions against the Iranian regime and its representatives. As at the time, it is once again Reuters who filed a complaint against the platform Changpeng “CZ” Zhao.
In its publication, the British media accuse Binance of playing for no less than 8 billion dollars transactions via blockchain “with” Iran. In fact, these exchanges would have mainly taken place with Nobitex Iranian Cryptocurrency Exchange. For approximately $ 7.8 billion of the previously announced total.
It took no more the items are added to the items. Therefore, some now suspect that Binance wanted to upload and highlight FTX, to disguise their concerns with fraudulent Iranian transactions. Patrick Hillmann, a spokesman for Binance, however, reminds that Binance.com “not being an American company” is not obliged to comply with these sanctions. But the branch Binance.us when it could be threatened by the rebound.
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FTX ensures that there are no risks despite the FUD launched by Binance
In this period, Sam Bankman-Fried seeks to neutralize the fear, uncertainty and doubt (FUD) sown by Binance about the FTT token and the solvency of its platform. The founder and CEO of FTX, in fact, has published a series of tweets to reassure the health of his companies.
He starts his message thread with “FTX is doing well. Assets are doing well. “, the one nicknamed “SBF” tries to reassure its community of users. It provides answers to all the concerns caused by Binance’s allegations prior to the announcement of the sale of all of their FTT tokens.
“FTX has had enough [d’actifs] to cover all customer goods. We do not invest customer assets. (…) We have processed all withdrawals and will continue to do so.
[FTX] it is very regulated, even if it slows us down. We have GAAP audits, with over $ 1 billion in excess cash. We have a long history of protecting customer assets and this remains true today. “
Previously it is Caroline Ellisonthe CEO ofAlameda research, who had tried to defuse the situation with a tweet in which he criticized the fragmentation of the documents produced against him. He thus claimed that his he company he had a lot more resources (over $ 10 billion) than the rumors behind all this FUD about FTX and its FTT token suggest.
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