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

Binance Bans, Then Restarts FTT Deposits, as Congressman Calls for Crypto Regulation
Binance logo and stock graph are displayed in this illustration, on June 28, 2021. Dado Ruvic/Illustration/Reuters
Naveen Athrappully
Updated:
0:00

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.
Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
Related Topics