Binance CZ: "They will attack us more," sending letter to all Binance team concerning FTX crisis
After the crisis between Binance and FTX, CZ shared his letter including his views concerning FTX crisis and that he sent to Binance team on Twitter. Zhao said they will attack on Binance more. Here are all the details.
Last night, FTX signed a deal with its big rival Binance yesterday to avoid going bankrupt. FTX's problems started after a social media post by Binance CEO Zhao(CZ) about FTX's own cryptocurrency, known as FTT. Later on, FTT plunged down by losing %80 of its value.
All these incidents reduced the confidence in the crypto market and created an earthquake effect in the market. Bitcoin fell below $18,000 yesterday and the entire market has lost a lot of value. Afterwards, CZ tweeted yesterday that they will save FTX.
Binance CZ shared the actual letter concerning FTX crisis that he sent to all Binance team globally on Twitter
A day after Binance CEO Changpeng Zhao (CZ) helped FTX avoid going bankrupt, he said the FTX crisis had severely shaken confidence in the crypto industry and would trigger a tougher scrutiny by regulators.
In a letter to its employees, CZ stated that regulators will scrutinize exchanges even more and it will be more difficult to obtain licenses anywhere in the world.
Zhao also said “We did not master plan this or anything related to it," to imply that he is not the person who triggered the FTX crisis.
CZ stated that after meeting with FTX CEO Bankman-Friedon Tuesday, he ordered Binance to stop the sale of FTT. He also announced the due diligence on the deal with FTX is ongoing and they may still withdraw from the deal.
In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago.https://t.co/IUNkPcLC8T pic.twitter.com/XGlIJB7EV5
— CZ 🔶 Binance (@cz_binance) November 9, 2022
Moreover, he reminded everyone that "Do not trade FTT tokens, If you have a bag, you have a bag. Do not buy or sell,"
The Binance CEO also accepted that the acquisition of FTX, the world's second largest crypto exchange, will make Binance as a target in the industry. He said "And people now think we are the biggest and will attack us more."
