TechFlow news — Twitter user Phyrex tweeted: "Binance's holdings of FTT began sharply increasing from 3:00 AM Beijing time on November 9. Currently, nearly 42 million FTT are stored across all ERC20 addresses controlled by Binance. CZ has not only refrained from selling any FTT, but has in fact nearly doubled his holdings."
In response, Yi He, co-founder of Binance and head of Binance Labs, commented:
"1. Binance Labs indeed still holds a large amount of FTT, originally planning to sell it off over several months. After receiving the call from SBF, we paused the sales—selling during a steep decline no longer makes sense. The rationale is the same as when we refrained from selling during the Luna crash.
2. The increase likely comes from user deposits, not from Binance increasing its own holdings. To avoid community misunderstandings, we offer this brief clarification—which may dispel certain conspiracy theories, but transparency is better."Original link
