Binance CEO Changpeng Zhao equipped on Sunday he would promote the crypto substitute’s holdings of FTT, the native token of Sam Bankman-Fried’s crypto substitute, FTX.

Binance obtained $2.1 billion charge of FTT and BUSD (Binance USD) closing year when it equipped the equity it held in crypto substitute FTX.

Bloomberg reported that Binance now holds 23 million FTT money, currently charge correct over $500 million, or 16% of FTT’s market capitalization.

Zhao, better identified as CZ, mentioned the substitute will liquidate its FTT over the subsequent few months to “decrease the market impact” of the sales.

CZ mentioned his resolution to promote FTT is a originate of “put up-exit possibility management” that follows unspecified “revelations”. His tweet comes about two weeks after Bankman-Fried equipped his toughen for getting and selling blacklists in behind October.

“We obtained’t toughen americans that lobby against other alternate players behind their backs (…) We desire the alternate to develop collectively. But there might perhaps be a limit to bear,” tweeted CZ. He didn’t reference Bankman-Fried’s policy proposals.

Others speculated that Binance equipped its money after a stability sheet from Alameda Be taught, FTX’s shopping and selling firm, leaked closing week. The leaked stability sheet, dated June 30, confirmed that Alameda’s holdings of FTT exceeded the market cap of all FTT in public circulation.

Caroline Ellison, Alameda’s CEO, equipped to hang all of Binance’s FTT tokens at $22, now a $0.68 cleave label on the token’s market label. She mentioned that the leaked stability sheet passed over over $10 billion of firm sources, and that it had returned most of its loans.