Binance CEO not interested in Alameda offer to buy its FTT assets

Changpeng Zhao, CEO and founder of Binance cryptocurrency exchange, has no interest in Alameda Research's offer to buy back the FTX cryptocurrency exchange token.

On Nov. 7, Zhao posted on his Twitter page whether he would accept an offer from Alameda Research CEO Caroline Ellison to buy FTT Binance assets for $22 per token. Zhao said, "I think we will stay in the free market."

Ellison's offer comes after Zhao announced on Nov. 6 that Binance would be liquidating its FTT position, indicating that such action is part of risk management following lessons learned from the LUNA collapse.

At the time, CZ noted that he would attempt to sell the tokens in a manner that would "minimize the impact on the market", and noted that the token sales would continue for "several months" due to him holding about US$2.1 billion in equivalent exchangeable stablecoin Binance USD (BUSD) and FTT.

Binance declined to comment on this matter.

At the same time, there were fears that Alameda finance rumors, the Binance FTT liquidation, and Zhao’s comments could be a possible catalyst for a large withdrawal from FTX, as $451 million worth of stablecoins left the exchange, according to Nansen data.

On November 7, users took to the exchange's Twitter page complaining about the long wait times, to which the FTX support responded to the complaints, assuring users that everything was running smoothly.

On Nov. 7, FTX CEO Bankman-Fried also pointed the finger at an unnamed "competitor," stating that "the competitor is trying to harass the cryptocurrency exchange with false rumors."

To which Zhao reiterated that he was not in a "fight" with FTX or Bankman-Freed, tweeting on Nov. 7, "I spend my energy building, not fighting," and tried to dispel what Freed called "conspiracy theory" and that he "somehow orchestrated this operation".

Analysis by Cointelegraph on November 7 indicated a bearish trend that could see FTT drop 30%, and on the morning of November 8, the price of FTT dropped to around $15.40 from $22, and at the time of writing, fell by 29.5% in 24 hours.