JUST IN: JP Morgan, Citigroup and other large financial institutions trying to accommodate customers wanting to move deposits quickly.
In other words, regional banks are losing customers quickly.
There is outsized risk with large deposits at regional banks.
Large banks win.
As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1/4