(Bloomberg) -- Zhao Changpeng, chief executive of the world’s biggest cryptocurrency exchange Binance, said on Twitter that he has decided to sell all remaining FTT tokens.

FTT is the coin of billionaire Sam Bankman-Fried’s FTX, the rival cryptocurrency exchange that Binance used to hold a minority stake in. When Binance exited that investment last year, it received $2.1 billion in Binance USD and FTT coins, the remainder of which it has decided to unload, Zhao said, citing “recent revelations that came to light.” 

Binance holds about 23 million FTX tokens, worth about $529 million at current prices, according to a person close to the exchange who asked not to be identified as the information isn’t public.

“Due to market conditions and limited liquidity, we expect this will take a few months to complete,” Zhao said. The coin dropped about 7% to $23.06 in the last 24 hours, according to tracker CoinMarketCap.

Zhao didn’t specify what “revelations” he was referring to. A Binance spokesperson declined to comment. 

Bankman-Fried didn’t immediately return requests for comment on Sunday, though he tweeted that he respects what those who have built the industry have done, “including CZ.” 

News site CoinDesk said in a Nov. 2 story that much of the balance sheet of Alameda Research -- a crypto trading house Bankman-Fried owns -- is comprised of the FTT token. 

On Sunday, Caroline Ellison, CEO of Alameda, said “that specific balance sheet is for a subset of our corporate entities, we have >$10b of assets that aren’t reflected here.”

Ellison tweeted to Zhao that “if you are looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!” She didn’t respond to a request for further comment. 

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