“ just a regular guy doing what needs to get done,” CZ wrote in a 2018 blog post. So, who is CZ? And what has he been hiding? A lot of people could lose a lot of money.” So I worry about the potential for it to go down. “We just went through the SVB collapse, and that was a regulated bank, at least there was some review process,” Van Hollen says. “It’s hard to put a finger on where operating, what they’re doing.”Īnd that matters as concerns about the stability of where we park our money are higher than ever. Chris Van Hollen, one of the lawmakers who has expressed concern about Binance in the past, told me. “Clearly CZ has been lurking in the shadows,” Sen. The elusive CZ has always been the real crypto kingpin - and the mystery is not an accident. But if you don’t follow crypto, you’ve likely never heard of CZ (like Bankman-Fried, Zhao goes by his initials), even though his business empire and personal wealth outmatched SBF’s.
#Cz binance ceo tv#
An expanding constellation of books, TV shows, and movies about the FTX fiasco will no doubt cement SBF’s place in the culture for years to come. SBF, the rumpled Silicon Valley wunderkind, the dutiful son of two Stanford legal scholars, has become one of the most notorious alleged criminals in the history of finance. Binance canceled the very next day, citing “issues are beyond our control or ability to help.” On November 11, FTX collapsed, taking about a trillion dollars off the estimated global value of all cryptocurrencies and forever staining the industry’s reputation.
Then, as quickly as the deal was announced, it evaporated. Not only was Bankman-Fried giving up on his once-ascendant businesses - he was actually bending the knee, selling whatever was left of the apparently ailing FTX for scrap. It looked like a world-historic chess move. The news was sudden and definitive: Binance, Zhao’s international trading post, announced plans to buy its biggest rival, FTX, led by the young American Sam Bankman-Fried, or SBF. There was a moment, late last fall, when Changpeng Zhao seemed like the smartest guy in crypto.
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