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> FTT was risky, so they dropped it. Instead of quietly selling off their holdings over time, the CEO tweeted their intention to sell and triggered a death spi
by unmole 4y ago
> FTT was risky, so they dropped it.
Instead of quietly selling off their holdings over time, the CEO tweeted their intention to sell and triggered a death spiral.
- beaned 4y agoCould've, sure, but then they'd be accused of insider trading, or trading against their users or something. With their volume would a death spiral not have happened anyway after all the downward force? You could also see it as them giving their users a chance to get out first. Binance didn't benefit by announcing it either. The token dumped before they liquidated, and they didn't scoop up their competitor.