CZ publicly addresses ‘wrong narratives’ surrounding FTX, Alameda CZ publicly addresses ‘wrong narratives’ surrounding FTX, Alameda
Binance CEO Changpeng 'CZ' Zhao addressed a number of what he alleged as 'wrong narratives' seen recently circulating social media.
1 min read
Updated: Aug. 27, 2023 at 1:21 pm UTC
Web Summit / CC BY 2.0 / Flickr. Remixed by CryptoSlate
Binance CEO Changpeng ‘CZ’ Zhao addressed a number of allegedly ‘wrong narratives’ that have been circulating on social media in recent weeks.
A list of wrong narratives I have seen recently.
— CZ 🔶 Binance (@cz_binance) December 6, 2022
CZ addressed five specific “wrong narratives”:
- “CZ wants to be the savior of crypto”
- “FTX was killed by xyz (ie, a 3rd party)”
- “SBF had good intentions, but just made some mistakes”
- “CZ’s tweet destroyed FTX”
- “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.”
3 “SBF had good intentions, but just made some mistakes.”
Lying is never with good intentions.
— CZ 🔶 Binance (@cz_binance) December 6, 2022
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.
4. “CZ’s tweet destroyed FTX”
No healthy business can be destroyed by a tweet.
However, there was a tweet that may have, Caroline’s tweet 16 minutes after mine on Nov 6. Data shows it was the real cause for people to dump FTT:https://t.co/yWFqKvbqMU
— CZ 🔶 Binance (@cz_binance) December 6, 2022
“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:
Back to Building! (#BNB)
— CZ 🔶 Binance (@cz_binance) December 6, 2022
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Author 
Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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In this article
FTX is a cryptocurrency derivatives exchange that offers futures, leveraged tokens and OTC trading.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Alameda Research
Alameda Research was once a principal trading firm, operating as an arm of the failed crypto exchange, FTX.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.
Caroline Ellison is the former lead trader and former CEO at Alameda Research.