The bankruptcy of the giant cryptocurrency exchange FTX continues its impact on the crypto money markets. As we have reported as Kriptokoin.com, the statements of CZ, the CEO of the leading crypto money exchange Binance, are carefully followed in this process. According to the latest allegations, Binance CEO CZ said that Alameda is trading to destabilize USDT. Here are the details…
Binance CEO claims Alameda is trying to destabilize USDT
According to documents shared by the New York Times, on November 10, Binance CEO CZ said that Alameda was trading to destabilize USDT. According to the shared document, Binance CEO Zhao pointed out a $250,000 trade that Alameda said was designed to destabilize Tether (USDT). The move CZ mentioned could be seen on the blockchain, a public ledger of cryptocurrency transactions that anyone can see. In response to Binance CEO Zhao’s accusations, Bankman-Fried said he was surprised.
“Are you claiming that you think $250,000 USDT trading will destabilize,” Sam Bankman-Fried, CEO of failed cryptocurrency exchange FTX, told CZ. he replied. Zhao said that a trade of this size would not succeed in destroying Tether, but could still cause problems.
CZ talked about the solutions generated by cryptocurrencies
However, economist Paul Krugman and Binance CEO CZ met at an event. In the conversation, Zhao said that the original concept of Bitcoin and cryptocurrency was to provide a new way to transfer value, just as the internet is a new way to share information. The famous CEO said the following about Bitcoin:
…Bitcoin, in particular, is a slightly better form of money. It solves some of our money related problems with limited supply, not easy to use, too much freedom and very low fees… For example, global trade, international transfers, remittances, micropayments etc… To be honest with you, Bitcoin’s initial use case was thought to be payments, but this did not happen. Other use cases are still in progress.
CZ also pointed to crypto’s ability to generate millions of dollars in funding and revenue streams for artists using NFTs. Binance CEO said:
This is a global fundraiser; It’s much easier for entrepreneurs to raise money globally. Using cryptocurrencies, a reputable entrepreneur can raise the equivalent of $10 to $20 million in crypto in a matter of days.
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