FTX native token FTT has fallen 71.6%, CoinGecko showed, and the firm's net crypto asset holdings have plunged 83% in just the past two days, making SBF's total assets lose an estimated $14.6 billion – nearly 94% of his total wealth.
FTX CEO Sam Bankman-Fried retreated his crypto exchange and assets are fine, trying to boost confidence to his investors, as speculation mounted over the weekend about the solvency of the exchange.
Co-founder and chief customer service of Binance exchange, in an explanation on Twitter, claimed that Binance is not in a war with FTX and has no intention of engaging in drama.
Popular crypto exchange FTX has witnessed a massive dip in the price of their native token, which has come about after an increase in withdrawals kickstarted by another top crypto exchange Binance, who planned to sell off all their FTX tokens.