Binance halts FTT deposits, CEO says

CRYPTOCURRENCY exchange Binance has stopped accepting deposits of FTX’s FTT token on its platform, its chief executive Changpeng Zhao said on Sunday (Nov 13), urging other rival exchanges to do the same.

FTX, which filed for bankruptcy on Friday, was engulfed in more chaos on Saturday when the crypto exchange said it had detected unauthorised access and analysts said hundreds of millions of dollars of assets had been moved from the platform in “suspicious circumstances”.

“(Binance) has stopped FTT deposit, to prevent potential of questionable additional supplies affecting the market. We will monitor the situation,” Zhao said in a tweet.

“FTT contract deployers moved all remaining FTT supply worth us$400 million, which should be unlocked in batches. Not too sure what’s going on,” he added, in another tweet. REUTERS