Binance suspends support for FTX token

Changpeng Zhao suggested all the Crypto exchanges not support FTX token deposits.

Changpeng Zhao is the CEO and founder of the first-ranked crypto exchange Binance. He is among the top 10 richest people in the world, thanks to his crypto empire. Binance exchange operates its own crypto & blockchain ecosystem, to provide fully safe crypto services without depending on other crypto companies.

On 13 November, Changpeng Zhao took to Twitter to inform followers that the Binance exchange suspended its deposit support for the FTX token (FTT), to remain from any kind of worst situation. And also suggested other crypto exchanges follow the same thing.

This decision to suspend the support of the FTT deposit has been taken in response to the transaction activity of the remaining $400 million worth of FTT. Zhao thinks that there are chances that the team may unlock this amount of funds to insert in the market circulation supply.

Further through another tweet, Zhao said that if any exchange moves huge amounts of funds to demonstrate the wallet addresses then that thing may be a sign of a very big problem.

FTX token price

At the time of writing this article, the price of FTT is $1.93 and this price is 91.6% low over the last 7 days of trade price.

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