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