“We were the last straw that broke the camel’s back” • ZebethMedia

Binance co-founder and CEO Changpeng Zhao, also known as CZ, commented on the collapse of FTX at ZebethMedia Sessions: Crypto 2022. He played down his personal role in the series of events that ultimately led to FTX filing for bankruptcy. “I still don’t think I have that much influence. I think we were the last […]

Binance chief says crypto exchange doesn’t currently see a viable business in India • ZebethMedia

Scores of crypto-focused venture capital firms have raced to India in the past two years, hoping to turn the world’s second largest internet market’s large developer community into a key web3 power house. But what does Changpeng “CZ” Zhao, arguably the most powerful and influential figure in the crypto industry, think about the potential of […]

Binance’s CEO isn’t sweating the FTX implosion • ZebethMedia

The crypto market is trying to pick up the pieces after it was thrown into massive disarray last week when the previously third-largest crypto exchange, FTX, imploded and filed for bankruptcy. “It’s obvious that people are jittery, interested and somewhat nervous about what’s happening in the industry,” Changpeng ‘CZ’ Zhao, CEO of the largest crypto […]

Can proof-of-reserves prevent future crypto exchange collapses? • ZebethMedia

A number of crypto exchanges are rushing to publish proof-of-reserves in a seeming attempt to reassure investors their funds are safe as fellow exchange FTX melts down. Proof-of-reserves (PoR) are independent audits by third parties that aim to provide transparency and evidence that a custodian holds the assets it claims to own on behalf of […]

Sam Bankman-Fried says Alameda Research to wind down trading, FTX attempting to raise capital • ZebethMedia

Sam Bankman-Fried said on Thursday that he will be winding down his trading firm Alameda Research, and is attempting to raise liquidity for the troubled FTX International exchange, as he scrambles to keep the world’s second largest crypto exchange alive after a bailout deal with Binance failed earlier this week. Bankman-Fried said he is engaging […]

Some crypto VCs see decentralization as the future following FTX collapse • ZebethMedia

As the crypto market digests the past few days of chaos, venture capitalists see the moment as a warning, but also an opportunity for the growth of decentralization and maturation of the larger blockchain space. “As venture investors, we take a long-term view on the industry; despite the current market turmoil, we are actively assessing […]

Binance backs out of deal to buy FTX • ZebethMedia

The world’s largest crypto exchange by volume, Binance, said it would walk away from a deal with the third largest crypto exchange by volume, FTX. On Tuesday, Binance signed a letter of intent to purchase its troubled competitor, FTX, in what appeared to be a potential bailout of the latter amid a liquidity crunch. But […]

Crypto’s biggest M&A deal, between Binance and FTX, looks unlikely to close • ZebethMedia

Crypto exchange Binance, the largest in the world by volume, signed a letter of intent Tuesday to purchase its troubled competitor, FTX, in what appears to be a potential bailout of the latter amid a liquidity crunch. But after less than a day of due diligence, Binance appears highly unlikely to go forward with the […]

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