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I am not sure I follow your logic. CZ and Coindesk triggered (not caused, but triggered) the collapse by announcing they thought there was an issue. CZ could
by LatteLazy 4y ago
I am not sure I follow your logic. CZ and Coindesk triggered (not caused, but triggered) the collapse by announcing they thought there was an issue. CZ could have avoided that without giving FTX any money by just not doing it: quietly selling Binances FTT. I do't blame CZ for the problems at FTX. I am just saying, if you trigger a (justified) bank run in a competitor, you have to expect people to withdrawn from your own org too. So triggering it and NOT being solvent yourself is inviting disaster...
- hiq 4y ago> quietly selling Binances FTT I don't think this was possible. This would have crashed FTT anyway, so people would have looked at it and found out that Binance was behind this. If Binance hadn't communicated about this beforehand, it would have made them look even shadier.