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Binance’s CZ Will Be Able To ‘Break The Rules’ More In The Future

Binance's CZ Will Be Able To 'Break The Rules' More In The Future

In the future, perhaps we will see Binance CEO Changpeng Zhao (CZ) boldly clarify issues in the crypto industry.

Binance's CZ Will Be Able To 'Break The Rules' More In The Future 2

In a Twitter thread, Zhao states that that’s not his intention; it’s to reduce risk, even if they are false alarms.

CZ cited a comment it made in July about the debt owed by FTX and Alameda to Voyager, arguing that 3AC’s demise was known in advance. However, Sam Bankman-Fried, the then-CEO of FTX, justified this.

Previously, Zhao was able to bail out FTX when requested by the SBF, however, because the severity was out of control, the deal was dropped.

It can be said that the decisive action of the “big brother” Changpeng Zhao has helped the crypto community to have a better view of this risky portfolio. Exchanges and crypto companies have also responded to the call to regain trust following the collapse of FTX.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.