FTX: What we know so far

As of November 10 2022, 1.9 million FTT (FTX’s token) was put back into FTX. Reports in the market last week suggested that that a large portion of the balance sheet of Alameda – sister company of FTX – had a high concentration of FTT, which it may have decided to address, although Alameda disputed those claims. https://www.cnbc.com/2022/11/08/binance-offers-to-buy-ftxs-non-us-operations-to-fix-liquidity-crunch.html

A price drop in FTT has caused a significant volume of withdrawal requests from their customers. It’s reported that the total requested withdrawal amount over the past 24 hours is close to $1.8 billion. https://coinmarketcap.com/currencies/ftx-token/

Reports within the last 24 hours indicate that Binance has reached a deal to purchase FTX for an undisclosed amount: https://www.coindesk.com/business/2022/11/08/ftx-reaches-deal-with-binance-amid-liquidity-scare-sam-bankman-fried-says/