Tag Archives: Changpeng Zhao (CZ Binance)

One of the most successful NBA teams – Golden State Warriors – reportedly paused all marketing endeavors related to the distressed crypto exchange FTX. The latter filed for bankruptcy last week after failing to honor its clients’ withdrawal requests. According to recent coverage, the basketball club stopped advertising all FTX products and services. The last promotion was on Monday (November 14), and it was related to Golden State Warriors shooting guard Jordan Poole. Miami...

Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange Binance, has expressed his belief in the ability of the crypto market to heal itself once the full impact of FTX’s implosion is felt. Speaking at a conference in Indonesia, CZ said that more companies would be affected by FTX’s downfall, considering how big the crypto exchange was.  “With FTX going down, we will see cascading effects. Especially for those close to the FTX ecosystem, they will be...

FTX has lost several potential rescuers after shady details of the internal workings continue to emerge. The biggest setback was Binance pulling out of the deal. But according to the crypto giant’s CEO, the deal with FTX did not make sense. While speaking at the Indonesia Fintech Summit, Changpeng “CZ” Zhao weighed on the takeover that never materialized and the reason behind it. “From a financial perspective, there is a big hole. From new users, we have very high overlaps....

The President of El Salvador – Nayib Bukele – reportedly dismissed the arising rumors that his country holds its bitcoin stash on the battered cryptocurrency exchange FTX. The information was revealed by Binance’s CEO – Changpeng Zhao – who said he discussed the matter with the political leader. The Central American nation became the first to make bitcoin legal tender inside its borders. It has purchased over 2,381 coins on a macroeconomic level which equals over $41 million...

FTX had reportedly reached out to several other large exchanges, including Coinbase and OKX, but was turned down. Its finances were one of the factors after the reviewal of which, Binance backed out of a planned takeover. While Binance may have averted more scrutiny from regulators in Europe and the United States but the botched deal further aggravated the meltdown in the prices of cryptocurrencies. The Billionairs’ Feud Binance and FTX have been at loggerheads long before...

Binance’s CEO said the world’s largest cryptocurrency exchange increased its Secure Asset Fund for Users (SAFU) to $1 billion again. This comes as a result of the recent market plunge, and its purpose is to grant customers maximum protection in case of another possible negative event. Changpeng Zhao (CZ) tweeted that his trading venue topped up its SAFU insurance fund to $1 billion. BUSD and BNB holdings account for $700 million of the total sum, while BTC’s address makes up...

A few months earlier, FTX CEO SBF said several “third-tier” crypto exchanges were insolvent but yet to be exposed. This was when several crypto lending platforms suffered massive financial contagion following Three Arrows Capital’s (3AC) fallout as a result of Terra’s spectacular collapse. His comments, obviously, did not age well now that his empire appears to be crumbling. Crypto Projects Fail, FTX Not an Exception Sam Bankman-Fried’s story of building his crypto empire...

Fears of a Terra-style debacle have seeped into the crypto market as the Binance-FTX drama continues. Binance CEO CZ made headlines by announcing plans to liquidate entire FTT holdings gradually to avoid any market impact. His crypto exchange had already exited from FTX equity last year. While CZ clarified that the move should not be taken as an attack on a competitor, this was enough to cause a slew of dumping in the market, and the FTT token shed over 20%. To minimize the...

Sam Bankman-Fried, CEO of FTX, has come out to allay fears about the state of the crypto exchange’s finances. Bankman-Fried said the platform has excess cash and clients’ funds are safe while also calling on Binance CEO to collaborate with him to improve the ecosystem. In a recent tweet thread on Monday (November 7, 2022), Sam Bankman-Fried, also known as SBF, said the crypto exchange which he spearheads has sufficient funds to cover clients’ holdings. The CEO also doused...

India’s anti-crypto policy came into sharp focus at the prestigious Singapore Fintech Festival (2-4 November), where Binance CEO flagged high tax rates as undoing the fledgling crypto business in the country.  With over 60,000 participants and 850 speakers representing top global financial services, banks, and policymaking bodies, Singapore Fintech Festival (SFF) is one of the most awaited events in the digital assets and fintech industry.  CZ on Indian Crypto Taxes Binance...