fttdebacle

FTX Collapse: Accusation of CZ Zhao Against SBF and Caroline Ellison

CZ Zhao, who is the owner of Binance, states in his autobiography titled "Freedom of Money" that Sam Bankman-Fried (SBF) requested billions of dollars "like he was asking for a Bologna sandwich" when FTX was collapsing. Zhao does not consider purchasing FTX seriously and labels SBF's behavior as "indirect and wavering."

The Critical Error
The critical error was Caroline Ellison publicly declaring her intention to purchase FTT for $22. This provided a floor price for professionals to trade on shorting FTT. In just three days, FTX had a withdrawal of $6 billion.

The Exchange Collaboration Group
Another revelation was made by CZ Zhao through a Signal group titled "Exchange Collaboration" created by FTX's Zane Tackett amid the collapse of Terra/LUNA. The group comprised SBF, CZ Zhao, Brian Armstrong of Coinbase, and Jesse Powell of Kraken. The Exchange Collaboration Group has come under the scrutiny of DOJ and SEC investigators.

#FTXDownfall #CZvsSBF #ExchangeCollaboration #FTTDebacle

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