- The crypto community on Twitter concluded that CZ was hitting hard at FTX.
- SBF said it would be willing to cooperate with the FDIC in the future.
When Binance CEO Changpeng “CZ” Zhao heard about the issue of widespread trading jitters on other crypto exchanges, he expressed his concerns to traders. When an investor’s buy or sell order gets stuck and moves to the bottom of the list, allowing newer trading orders to arrive, this is called instability in the cryptocurrency trading market.
“Just learned a new word, stress. In a particular exchange, sometimes your orders will pause a little, and some more will appear in front of you. Apparently, this happens so often in this exchange that dealers have coined a term for it, anxiety.” (Front Run )”
fight the bad guys
The crypto community on Twitter concluded that CZ was making a head-bang on FTX, a cryptocurrency exchange headed by Sam Bankman-Fried, despite the fact that CZ did not specifically mention any exchange in its concerns about the tension. In response to society’s acceptance of “tensions” as a normal response, Czechoslovakia clarified that “you all knew and didn’t say anything. We need to fight the bad guys.”
Additional contacts were made by CZ with VIP traders on Binance, who reportedly verified their awareness of the illegal trading. When the Federal Deposit Insurance Corporation (FDIC) issued a cease-and-desist order to the exchange and four other crypto companies, the timing of the claim against FTX was immediate.
Investors were misled by claims that merchandise offered by FTX US, SmartAssets, FDICCrypto, Cryptonews, and Cryptosec were covered by Federal Insurance Corporation insurance. To slow the crash, the SBF said it would be willing to cooperate with the FDIC in the future while also repeating that “FTX US is not FDIC insured.”
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