Binance's CZ says he's building, not fighting amid FTX tensions

Quick Take

  • “Little did I know it was going to be `the straw that broke the camel’s back,’” CZ says about weekend tweet.
  • CZ says he’s a building, not fighting and is surprised by discussions about FTT sales

Binance CEO Changpeng "CZ" Zhao said he's surprised by reactions to the weekend announcement that his firm would start selling off holdings of FTX's FTT token.

"Little did I know it was going to be 'the straw that broke the camel’s back,'' he wrote on Twitter. "The fact that it sparked such levels of  'discussions' was surprising."

With tensions between Binance and FTX simmering, CZ said he's focused on "building, not fighting."

"Funny memes, media & some people tried to color this as a `fight,'" he wrote. "Sorry to disappoint."

FTX CEO Sam Bankman-Fried has said his exchange is "fine," with a competitor "trying to go after us with false rumors."

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The price of FTX's native token FTT showed some signs of resilience, trading in the green earlier Monday before declining .7% to $22.11 at 4:20 pm EST, according to TradingView.


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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the University of Toronto, where he completed a specialist in political science, and an MBA from American University in Washington, D.C.

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