Binance Bans, Then Restarts FTT Deposits, as Congressman Calls for Crypto Regulation

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Binance Bans, Then Restarts FTT Deposits, as Congressman Calls for Crypto Regulation

Cryptocurrency exchange Binance is once more allowing deposits to be made in FTT tokens that are issued by rival exchange FTX, hours after prohibiting the activity.
In a tweet on Nov. 13, Binance said that it had noticed "suspicious movement" of a large amount of FTT by the token's contract deployers due to which it paused FTT deposits to protect users. However, the company changed its stance on Monday following an investigation into the issue.
"We've noticed that 100 percent of $FTT has been fully unlocked since May 1, 2022, according to 'FTT Unlock Schedules' ... The large movement of $FTT flagged before was likely due to FTX’s internal asset consolidation ... We are reaching out to the current FTX team for further clarification. #Binance has since reopened deposits of $FTT," the company posted in a series of tweets on Nov. 14....

Source: Binance Bans, Then Restarts FTT Deposits, as Congressman Calls for Crypto Regulation

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