The resignation of Binance’s former CEO CZ and the appointment of Richard Teng came as a cure for FTX.
Ellison, the former CEO of Alameda Research, who testified in the criminal trial of FTX founder Sam Bankman-Fried on October 12, further ignited the FTX-Binance conflict by making serious accusations against CZ. Ellison, who blamed some of FTX’s failure on CZ, stated in his testimony at the hearing that the tweet sent by CZ, who attempted to sell his FTT tokens, dragged FTX into collapse.
With these events, the needle has gradually turned to the FTX front in the Binance-FTX war, which is increasing day by day. The SEC’s decision that FTX could continue operating under the same name and the resignation of Binance’s former CEO, CZ, took FTX a few steps forward.
After Binance’s former CEO Changpeng Zhao announced his resignation and Richard Teng announced his appointment, the festivity started on the FTX front. Binance and FTX, which was once the biggest rivalry of all time, came to the fore again after these events. Binance’s radical change benefited FTX. FTT, FTX’s native token, topped the “Top Rising” list with an increase of nearly 40 percent within hours.
An incredible leap with the news effect!
FTT, which was traded at $ 2.89 before the developments on the Binance side, started its upward movement and reached $ 3.98 within hours. The native token of the stock exchange, which experienced a total increase of 37.73 percent, shook the market. FTT, which continued its climb during the tense times when Binance and BNB were going through, is currently finding buyers at $ 3.52.
Continuation of the problems in Binance or positive news from FTX will push the FTT price even higher. In such a case, an increase towards 4 – 4.2395 – 4.4901 – 4.8237 and 5.5323 dollars can be observed, respectively. However, if Binance attacks and pushes FTX into the background, it may push the FTT price to 3.3996 – 3.1543 – 2.8240 and 2.40 dollars respectively.
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