The new details revealed the contentious past between Binance CEO Changpeng Zhao (CZ) and FTX founder Sam Bankman-Fried (SBF).
Michael Lewis, author of the famous book “The Big Short” “Going Infinite” His new book titled Binance CEO C.Z. and FTX founder SBF He revealed the remarkable details between them. According to the details in the book, SBF 2019 While he was looking for funds to establish a cryptocurrency exchange in 2018, CZ 40 million dollars He did not accept payment.
In the ongoing process, SBF managed to find funding from other sources. FTXHe implemented . With this FTXAfter the popularity and success in a short time, CZ FTX 80 million dollars bought shares.
After the passage of time, SBF will return to CZ in mid-2021. 80 million dollars He stated that he wanted to buy back the shares. CZ, shares $2.2 billion He said that he could set a price and return the shares to SBF under these conditions. SBF accepted this offer, but CZ left at the last moment. $2.2 billion offer $75 million increased it further. SBF did not hesitate to accept this offer.
FTX in October 2022 32 billion dollars Considering that CZ is worth 2.2 billion dollar FTX shares exceeding is big It is estimated.
Despite regulatory challenges in the US, FTX in May 2019 targeting international investors 350 million FTX Tokens (FTT) pressed. According to the details given in the book, some tokens were given to FTX employees. from $0.05 and important crypto figures such as CZ from $0.10 It was stated that it was offered. But CZ rejected this offer as well.
Another detail included in Lewis’s new book is the former US President of SBF to Donald Trump not to run for president again 5 billion dollars He revealed that he was considering offering payment.