Recently, it announced that it will sell FTT tokens. cryptocurrency Binance CEO Changpeng Zhao, who ignited the bankruptcy of the exchange FTX, said in a statement today that he will continue such rival exchange statements to the benefit of the crypto industry.
Binance CEO Changpeng Zhao Says He Will Be More Outspoken About Competitors From Now On
Speaking on Twitter, Changpeng Zhao said that they normally follow a policy of not talking about competitors, but they only had to break it a few times:
“We have a policy of not commenting publicly on our competitors (we call our industry colleagues). I’ve only broken this rule a few times in the past.”
1/3 We have a policy to not comment on competitors (we call industry peers) publicly. I broke this rule only a few times in the past.
July 7th, I tweeted this:https://t.co/qvVfLhtTx5 pic.twitter.com/AJ86k9X96j
— CZ 🔶 Binance (@cz_binance) November 12, 2022
CZ then recalled his July 7 tweet about FTX:
“I tweeted this on July 7:
So, 3AC owed Voyager $100 million and went bankrupt. FTX/Alameda gave 3AC $100 million but couldn’t save the money.
Alameda invested in Voyager, then borrowed $377 million from Voyager…okay…
V went bankrupt. FTX didn’t “save” them or refund the money?
Is it hard to understand?”
CZ then reposted the response he received from then-FTX CEO Sam Bankman-Fried:
“His answer was:
“It’s always nice that people are interested in helping the industry (less so if they’re just pretending) but I wish some would take the trouble to ask their legal team how the bankruptcy process works first… Or, you know, reach out to ask for clarifications. I am always happy to inform!”
He obviously knew a lot about bankruptcy in July.”
After these statements, CZ said that he will take a break from his decision not to talk about competitors from now on:
“I’m going to break this policy a little bit in the future and be more outspoken about the problems I see in the industry. It can cause more “arguments” or more fighting memes. But that’s not my intention. My goal is to reduce risk. Even if they are false alarms.”
*Not investment advice.
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