Changpeng Zhao, known as CZ and co-founder of Binance, has shared intriguing details about his upcoming book. He commented on a potential link between FTX, 3AC, and the crash of Terra’s UST stablecoin from May 2022.
CZ Comments on Possible Link Between FTX and Terra Crash
Zhao responded to an X post from FTX creditor @Mbottjer regarding the bankrupt Three Arrows Capital (3AC) demanding $1.58 billion from FTX after claiming its assets were liquidated. The court approved this claim.
> “Interesting turn of events. I didn’t know this before, but not surprised either as they (FTX/3AC) were ‘close’. I am curious if FTX had anything to do with the LUNA/UST crash/depeg in May 2022?” – CZ 🔶 BNB (@cz_binance)
“3AC says it only recently discovered evidence that FTX liquidated $1.53B of 3AC’s assets just two weeks before 3AC itself went into liquidation,” noted the @Mbottjer thread.
Changpeng Zhao deemed this an “interesting turn of events” and reflected on whether FTX influenced the crash of LUNA and UST. This crash, occurring in May 2022, significantly impacted Bitcoin and the broader crypto market.
CZ’s Future Book’s Details About This
Upon hearing suggestions that the events are worthy of a documentary, CZ admitted he contemplated the connection between FTX and the crash while writing his book. However, he stated he found no solid evidence and wished to avoid speculation:
> “I didn’t want to speculate; there were rumors, but I never saw hard evidence.” – CZ 🔶 BNB (@cz_binance)
Previously, CZ revealed that his book spans 114,000 words, and while he has produced a draft, he noted the need for significant rewrites.
Comments (0)