The U.K. Parliament’s Treasury Committee questioned why Binance revealed it was selling $500 million worth of FTT tokens on Nov. 6, and whether the exchange knew it could trigger FTX’s collapse during a cryptoasset inquiry.
Binance vice president of government affairs in Europe Daniel Trinder appeared before the Committee as a witness and said that Binance had no intention to trigger a collapse and made those decisions to protects its users. He added that the exchange will submit the requested documents as evidence on Nov. 15. However, Trinder said the exchange may choose to redact certain information from the requested documents due to ongoing investigations related to FTX in the U.S.
Treasury Committee Chair Harriett Baldwin said Binance would have to explain the exact reason behind withholding certain information. She added that the exchange would have to admit that it was a player in the “sequence of events” that led to FTX’s demise.
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