CZ Binance “Swirls” Sam FTX On The Issue Of Voyager Bankruptcy
The difference in thinking between the two crypto billionaires CZ and SBF at the moment is too big after the heated debate on the issue of “rescuing the market” took place.
When the liquidity crisis in the crypto market unfolded, we saw somewhat of a difference between the two crypto giants. CEO Sam Bankman-Fried (SBF) said he will “support the market” during this difficult period through the companies he manages, including the FTX exchange and the Alameda Research fund.
On the part of CEO Changpeng Zhao (CZ), not every crypto company that is in trouble deserves to be “rescued”. CZ even posted a blog post arguing that projects with unsustainable business models deserve to collapse and the exchange will not come to the rescue.
The first “shot” was the CEO of Binance CZ
Conflict between the two sides “exploded” in the evening of July 7 through a series of conversations on Twitter. Binance CEO Changpeng Zhao, commented on Sam Bankman-Fried’s side about Voyager’s bankruptcy filing despite being pumped by Alameda, then revealed that Alameda also owes Voyager money.
CZ also shared a text message with an unidentified person he wrote was “a relatively famous OG in the space” on June 12. Accordingly, the CEO of Binance refused to ask for a loan of 120 million USD despite being committed to mortgage 4 billion USD of assets and pay interest in full. Mr. Changpeng Zhao affirmed that Binance will not risk deals with such large amounts of money.
Sam Bankman-Fried’s side immediately responded on Twitter:
This is considered the latest development in the battle between Binance and FTX since 2019. In November 2019, Binance sued FTX for alleged manipulation attacks, demanding $150 million in compensation. A month later, the two reconciled and cooperated, whereby Binance invested in shares of FTX. CEO CZ’s platform also lists FTX’s leveraged token product.
However, just a few months later, Binance delisted these tokens for “protecting the interests of users”, only to create its own leveraged product shortly after. By mid-2021, FTX bought back all of Binance’s shares in the exchange, officially ending the relationship between the two parties.
Since then, CZ and SBF have not appeared together at any events or even taken any pictures together.
Coincu will continue to update the situation related to Sam Bankman-Fried, you can find out more information through this article.
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