The cryptocurrency market took a hit on Tuesday after Binance CEO Changpeng Zhao announced it would liquidate its entire FTX (CRYPTO: FTT) holding. This news sent shockwaves through the industry, causing a sell-off that sent the price of crypto exchange’s FTX native token below $22.
What Happened: As the market reacted to the news, Twitter quickly became the hotspot for crypto traders.
While while the mood was certainly somber, there was also a healthy dose of humor to be found in the form of memes:
FTT price action at $22 pic.twitter.com/C8T8UptG08
— rwlk (@sherlock_hodles) November 7, 2022
See More: Crypto and DeFi: Benzinga’s Intro to Blockchain
everyone that bought the $FTT dip at $22
pic.twitter.com/Nz8r11Bc7s
— yzy.eth (@LilMoonLambo) November 8, 2022
FTX getting people to buy $FTT at $22pic.twitter.com/di8hML8C5g
— yzy.eth (@LilMoonLambo) November 8, 2022
Popcorn Time $FTT #Binance pic.twitter.com/9cg3fk9EFI
— zifou (@zif057) November 8, 2022
What a Day for @SBF_FTX $FTT! It looks like @ErikVorhees Gave an alley-oop to @CZ_Binance while #DEFI is in disbelief. #DunkedOn #Crypto #CryptoCurrency #Banksters pic.twitter.com/a34zt7wQB6
— Randy Hilarski (@RandyHilarski) November 8, 2022
Price Action: At the time of writing, FTT was trading at $18.25, down 19.62% in the last 24 hours, according to Benzinga Pro dats.
Bitcoin (CRYPTO: BTC) was trading below the $20k mark down 4.70% and Ethereum (CRYPTO: ETH) was down 5.48% in the past 24 hours, trading at $1,487.47.
Read Next: Bitcoin, Ethereum, Dogecoin See Large Liquidations Amid FTX Scare
