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CZ FINALLY Breaks Silence After FTX Collapse: “This Will Set Us Back For Years”

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Binance CEO CZ finally broke his silence after the FTX Collapse and the fall from grace for Sam Bankman-Fried. At the 4th Indonesia Fintech Summit 2022, CZ addressed how it all went down with FTX and what he believes should be next for the crypto industry. From the outside, it seems that CZ’s tweets and Binance’s dumping of FTT Token were the reason for FTX’s downfall, but CZ clarified that FTX’s troubles were already well underway before they came to the surface. And ironically enough, SBF told everyone that many of the crypto exchanges were insolvent and that there were hidden financials like the 2008 crisis. The only catch is that no one knew he was talking about his own crypto ‘empire’.

CZ appeared to have a real concern for the crypto space, although he believes what occurred will set the industry back a few years. But before we listen to CZ, if you’re new to the channel or not subscribed, make sure to hit the subscribe button, as we put out daily content to keep you updated on the current market and news.
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► To watch the full interview:
https://www.youtube.com/watch?v=xKRvgj0G7Nk

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CZ FINALLY Breaks Silence After FTX Collapse: “This Will Set Us Back For Years”

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46 Comments

  1. he means that btc will go back to 100 dollar or less, the majority of entire crypto investor have lost all their money, luna, celsius and now ftx and many other project …… do you know what means? million investors right now they do not have anymore money to invest or will never trust crypto in the future

  2. It is hard to believe that Kayman island based Binance is managing the funds better than US based Exchanges. Binance might not be ready for proof of reserves because for years they didn't manage 1:1 user balance to actual funds. They might get out of this if they kept assets that could be returned back to cover the user balance. I would do that if I would be in this position. Lets see… 😉

  3. Ponzi Scheme all over the place. Crypto is big criminal activity same as $$$ but at least $$$ is more predictable and regulated.

  4. I call bs. I have indonesian friends and one thing I know is they are very smart. Theres no way CZ did not know what could happen especially with a P.R. team. This was exchange warfare and he doesnt want to admit to it because of the ramifications from the retail buyers that lost their investments. Notice how he emphasized he wanted to help the users. I like the fact that Binance platform seems straight forward and honest. Cz wants to dominate the market and that may not be a bad thing and at the end of the day its simple capitalism.

  5. Did anybody do due diligence on FTX? Seriously anyone who took advice from a celebrity or YouTuber without doing due diligence deserves to get burned 🔥

  6. Banks don't have the transperancy, that he's describing, to their customers.

    Hope this becomes the future

  7. CZ is very very SAVVY. He knows the industry needs to be regulated but part of Crypto is secretive. It defeats the whole purpose of trading in crypto if the industry is regulated and vendors MUST BE IDENTIFIED>

  8. Hey is this the time to invest and get FTX for cheep like the experts tell us, go for it ha ha ha. .

  9. Trust only Silver and Gold. 10 000 years as Money. People will now look into Junior Mining Stocks like for example Vizsla Silver and Maple Gold Mines.

  10. Lack of credibilty is coming for this dipshit next, everyone knows what he did and why he did it. It's an amazing world we live in, competing ponzis taking each other down with no oversight whatsoever.

  11. We thought crypto will avoid this kinds of collapse.turned out that crypto is worse than money.

  12. Largest ponzi of all time, countless losses of early adopters and the response is like, " hey this will be a good learning opportunity to make this space better" wow! Out of touch. If you play in this space don't invest anything you can't afford to lose.

  13. anyone who trusted a billionaire dork who self proclaims to be so humble deserves to be scammed

  14. I've lost interest in Blockchain tokens and trading completely after being a big believer. It's an online casino where the house always wins ( pump and dump). The tech is wonderful for bringing honesty hopefully one day to money but until I know who is behind Bitcoin I'm no longer going to put my trust in Princes.

  15. The FTX fiasco is a globalist attack on crypto… They don't want competition, they just rolled out their CBDC pilot test….

  16. CZ is a cold businessman. He knew what he was doing and didn't care about collateral damage. I understand it will all fall on SBF's shoulders as it's his responsibility to run things properly. That said, CZ is no hero

  17. I sold most of my crypto in loss , the loss amounts for 20% to 25% (net loss) , I always had a bad luck in trading and investing, I never rode good days of crypto, either I take 10 – 20% profit or vice versa, when I fed up with it, I took a decision not to indulge in it, most of my friend advices not to sell in loss but, I made up my mind and liquidate all of my holding.
    There is aIso a reason that there is many coin in the market and I had a gut feeling that the coredibility of Crypto is vanishing away.
    The market did bounce back a little but no regrets.
    If I hadn't Sold it that day the amont of loss would be 60% to 70% now.

  18. always compare crypto and blockchain not going away because internet is new too and not going away…..
    well internet is necessity nowadays…but not crypto, theres no changes to life if we decide lay it off

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