Binance’s recovery fund: altruist or antagonist?
Self-appointed crypto-savior Changpeng "CZ" Zhao has committed the bulging resources of Binance to saving the digital asset industry, from a crisis he helped create. With friends like these…
Self-appointed crypto-savior Changpeng "CZ" Zhao has committed the bulging resources of Binance to saving the digital asset industry, from a crisis he helped create. With friends like these…
Binance is making a backdoor move into Japan while its botched attempt to make a similar move into the U.K. isn’t stopping local courts from putting the digital asset exchange in the hotseat.
Its decision to help sink FTX was merely the latest in a string of moves aimed at consolidating power within the industry, taking Binance ever closer to becoming monopolistic power.
According to Nouriel Roubini, “there are seven C’s in crypto: concealed, corrupt, crooks, criminals, conmen, carnival barkers and, finally, CZ.”
As the FTX drama continues to play out, calls for stronger regulation are only growing louder in both the public and private sectors.
Changpeng Zhao leverages FTX's downfall to paint a picture of Binance as a savior of fallen digital asset projects in a bold attempt to wash away the reputational stains of the 'crypto' industry.
Sam Bankman-Fried and Changpeng Zhao have been exchanging blows for months, to the point that when announcing the liquidation, Zhao and his cohort were quick to deny any suggestion that the move was an attack on FTX.
This week’s dramatic implosion of the FTX exchange continues to disgorge a seemingly nonstop parade of machinations and sordid revelations that threatens to engulf the entire digital asset sector.
A few months ago, FTX CEO Sam Bankman-Fried was seen as a savior, but now some see him as a villain trying to corner the digital asset market by snapping up its failing projects at bargain prices.
Binance has backed out of the acquisition deal upon realizing the size of the unfunded liabilities on FTX’s balance sheet.
Binance offered to buy FTX.com for an undisclosed sum, and after some due diligence checks, it will officially own one of its biggest exchange competitors.
Should SBF go down in flames because CZ caused a run on FTX’s underfunded bank, we should expect SBF to share secrets learned while he and CZ are at war.