The CEO of Binance, cz_binance, reflected on the FTX collapse, his relationship with SBF, and the importance of transparency in the space.
“When he reached out to me, I thought he was going to ask for an OTC [over-the-counter] deal to buy the FTT tokens, and in this way, we’d silence the noise in the market. But when he called me, he very quickly alluded that they’re in big trouble, and they’re looking for a buyout.”
“Number one, he never told me I was his sparring partner. I’m actually not sure if that tweet was aimed at me or us . We never view other exchanges as sparring partners or competition — it’s not a boxing match.” “That day, when he tweeted that, he should have been working on other things. He should not be writing tweets. In one of the messages I sent him in an industry group, I said ‘Honest advice Sam, stop doing whatever you’re doing, don’t do anything more, put on a suit and go back to D.C. and start to answer questions.’”, signaling Binance’s intent to sell its FTT tokens, which coincided with an insurmountable amount of withdrawal requests on FTX’s platform.
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