Binance CEO speaks out about possible FTX purchase
Changpeng Zhao noted that regulators will now be even more closely monitoring cryptocurrency exchanges and asked his team not to consider the "fall of a competitor" as a "victory
Binance CEO Changpeng Zhao (CZ) issued a clarification on the situation with the FTX exchange purchase. He claims that the events taking place were not a pre-designed plan. According to Changpeng Zhao, he knew very little about the inner workings of FTX before he received a call from FTX CEO Sam Bankman-Fried (SBF). CZ was surprised and thought SBF wanted to offer him an over-the-counter deal, but things turned out differently.
CZ advised employees not to buy or sell FTT tokens if they had them, noting the high volatility. He wrote that immediately after talking to SBF, he stopped the sale of FTT coins by the Binance exchange.
According to CZ, he asked the team not to comment publicly or internally on the deal and cautioned against questions from those not directly involved.
In his statement, CZ also noted that the drop in FTX's rate does not benefit anyone in the industry, and asked employees not to view it as a "victory." According to him, user confidence has been shaken, and regulators will now monitor exchanges even more closely, getting licenses around the world will become more difficult.
The purchase of FTX exchange Binance is actively analyzed and discussed in the global cryptocurrency community. For example, Bernstein analysts warned about the growth of Binance's share in the crypto market to 80% if the deal is concluded. According to them, it may attract the attention of antitrust regulators.
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