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CZ publicly addresses ‘wrong narratives’ surrounding FTX, Alameda


Binance CEO Changpeng ‘CZ’ Zhao addressed a number of allegedly ‘wrong narratives’ that have been circulating on social media in recent weeks.

CZ addressed five specific “wrong narratives”:

  1. “CZ wants to be the savior of crypto”
  2. “FTX was killed by xyz (ie, a 3rd party)”
  3. “SBF had good intentions, but just made some mistakes”
  4. “CZ’s tweet destroyed FTX”
  5. “SBF vs CZ: The Epic Showdown”

In addressing the first point, CZ said “crypto doesn’t need saving,” and explained that Binance wished to support “other good projects” that are financially suffering due to recent events.

On the second point, CZ alleged :

“FTX killed themselves (and their users) because they stole billions of dollars of user funds. Period.”

In regard to the third point discussing Sam Bankman-Fried’s (SBF) good intentions despite mistakes made, CZ said:

“Lying is never with good intentions.”

When discussing the fourth ‘wrong narrative’, CZ rejected the idea that ‘CZ’s tweet destroyed FTX’ by explaining that a tweet could not destroy a “healthy business.”

Although, CZ then pointed to a tweet by Alameda Research CEO Caroline Ellison as an example of a tweet that “may have” destroyed a business.

“She gave her floor price away…”

Still addressing the same point, CZ described SBF as “one of the greatest fraudsters in history” and “a master manipulator when it comes to media and key opinion leaders.”

To conclude the thread, CZ addressed the “SBF vs CZ” narrative:

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