CZ has denied that he deliberately created a liquidity crisis at FTX—”I spend my energy building, not fighting,” he tweeted on November 7—but Tim Mangnall, whose company Capital Block has consulted for both Binance and FTX, says this was a “shrewd” business manoeuvre by CZ, one that allowed him to “buy one of his biggest competitors for pennies on the dollar.”
All Hail CZ, King of Crypto
If it goes ahead, the deal will further reinforce Binance’s position as the world’s largest cryptocurrency exchange. It was already larger, by trading volume, than a clutch of its nearest competitors (Coinbase, Kraken, OKX, Bitfinex, Huobi,
→ Continue reading at WIRED
