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Bitcoin $116,494.69 +0.50%
Ethereum $4,663.07 -0.34%
BNB $934.02 -0.67%
Optimism $0.80 -1.21%
Arbitrum $0.52 -2.47%
Solana $243.63 -1.73%
Polygon $0.22 +2.77%
Cosmos $4.67 -2.52%
Avalanche $30.13 -1.31%

Binance CEO Worried SBF Was Trying to Destabilize Crypto Market to Save FTX

Tether executives and Binance CEO Changpeng “CZ” Zhao worried that Sam Bankman-Fried (SBF)was attempting to destabilize the crypto market aiming to save FTX.

Messages seen by The Wall Street Journal of a Signal group chat named "Exchange coordination" reveals an argument between CZ and SBF on Nov. 10 about Tether's stablecoin USDT.

According to the report, CZ and others in the group worried that trades made by Alameda Research were focusing on depeg the stablecoin, which would have a ripple effect in crypto prices. Binance CEO reportedly confronted SBF: “Stop trying to depeg stablecoins. And stop doing anything. Stop now, don’t cause more damage.”

Binance Tether FTX Sam Bankman-Fried

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Binance CEO Worried SBF Was Trying to Destabilize Crypto Market to Save FTX

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