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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