CZ: FTX Going Down Is Not Good for Anyone in the Industry

CZ posted a long article about the FTX incident, saying that Binance has no master plan for the matter or anything related to it, and immediately asked his team to stop selling $FTT tokens as soon as he finished his call with SBF yesterday.

In addition, he said that FTX going down is not good for anyone in the industry. Do not view it as a "win for us". While user confidence is being severely shaken, regulators will also be scrutinizing trading platforms more, and licenses will be more difficult to obtain globally. And people now think Binance is the biggest (exchange) and will bash them twice as much. The team has a lot of work to do in this space.