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Binance CEO CZ on FTX crash: ‘We’ve been set back a few years’

Published 11/12/2022, 06:18 AM
Updated 11/13/2022, 08:40 AM
Binance CEO CZ on FTX crash: ‘We’ve been set back a few years’
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Crypto exchange FTX joined many other fallen projects — including Terra, Three Arrows Capital, Celsius and Voyager — in filing for bankruptcy in 2022. Owing to the devastation caused by multi-billion United States dollar losses suffered by businesses and investors, the man running the biggest crypto exchange, Binance CEO Changpeng “CZ” Zhao, envisions an era of greater regulatory scrutiny in the near future.

With one of the biggest crypto businesses falling overnight, CZ believed the episode was devastating for the industry, which took away a lot of consumer confidence. Speaking at Indonesia Fintech Summit 2022, he said:

CZ sharing his thoughts on FTX and the future of crypto during Indonesia Fintech Summit 2022. Source: YouTube

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