FTX’s token falls sharply amid Binance controversy

Binance CEO Changpeng Zhao said in a tweet on Nov. 6 that the exchange would begin selling off its FTT holdings following “recent revelations” — seemingly in reference to an earlier report from CoinDesk that revealed details of Alameda Research’s balance sheet.

FTT, the token created by crypto exchange FTX, fell 19%, from roughly $22 to below $18 shortly after 10:00 p.m. ET on Nov.7.