Maybe it’s one final dagger, however Binance CEO Changpeng Zhou simply couldn’t resist a bit of dig on the fallen FTX chief govt Sam Bankman-Fried.
That’s a reference to the position the cryptocurrency titan referred to as CZ performed within the demise of FTX. He put in movement the seeds for FTX’s collapse when he stated he would sell FTT tokens, then valued at $2.1 billion, backing the alternate.
That despatched FTX clients scurrying, the token plunging, and triggered a really transient try by Binance to rescue FTX.
Binance’s fast due diligence efforts at the moment are extra comprehensible within the gentle of the chapter court docket submitting from John Ray, who detailed the lack of even basic controls at FTX.
Ray stated balances of buyer crypto belongings deposited weren’t recorded as belongings on the steadiness sheet. Thus far the restoration staff been capable of finding $564 million in money and $740 million of cryptocurrency secured in chilly wallets, they usually’re undecided if they will decide how that cryptocurrency was allotted.
Additionally learn: 10 crazy things detailed in FTX’s bankruptcy filing
