{"id":524794,"date":"2022-12-10T23:59:09","date_gmt":"2022-12-10T20:59:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sbf-tried-to-destabilize-crypto-market-to-save-ftx-report\/"},"modified":"2022-12-10T23:59:09","modified_gmt":"2022-12-10T20:59:09","slug":"sbf-tried-to-destabilize-crypto-market-to-save-ftx-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sbf-tried-to-destabilize-crypto-market-to-save-ftx-report\/","title":{"rendered":"# SBF tried to destabilize crypto market to save FTX: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e18f99105\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e18f99105\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sbf-tried-to-destabilize-crypto-market-to-save-ftx-report\/#%E2%80%9D_SBF_tried_to_destabilize_crypto_market_to_save_FTX_Report_%E2%80%9C\" >&#8221; SBF tried to destabilize crypto market to save FTX: Report  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SBF_tried_to_destabilize_crypto_market_to_save_FTX_Report_%E2%80%9C\"><\/span>&#8221; SBF tried to destabilize crypto market to save FTX: Report  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTIvZTNiNjJjNzUtMGZkMS00OTU0LTgwYzQtYTY0YTYyM2IzMmNhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-30a6cf80>Tether executives and Binance CEO Changpeng \u201cCZ\u201d Zhao worried that Sam Bankman-Fried (SBF), former FTX CEO, was attempting to destabilize the crypto market aiming to save the now-bankrupt exchange, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/rivals-worried-sam-bankman-fried-tried-to-destabilize-crypto-on-eve-of-ftx-collapse-11670597311\">according<\/a> to reports on Dec. 9.<\/p>\n<p>Messages seen by The Wall Street Journal of a Signal group chat named &#8220;Exchange coordination&#8221; reveals an argument between CZ and SBF on Nov. 10 about Tether&#8217;s stablecoin USDT. Members in the Signal group include Kraken co-founder Jesse Powell, Paolo Ardoino, chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer of Tether, among others. <\/p>\n<p>According to the report, CZ and others in the group worried that trades made by Alameda Research were focusing on depeg the stablecoin, which would have a ripple effect in crypto prices. Binance CEO reportedly confronted SBF:<\/p>\n<blockquote><p>\u201cStop trying to depeg stablecoins. And stop doing anything. Stop now, don\u2019t cause more damage.\u201d<\/p><\/blockquote>\n<p>SBF denied the claims in a statement to the WSJ.<\/p>\n<p>The alleged argument on the Signal group h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened a day after Binance announced that it wouldn&#8217;t bail out its troubled competitor FTX, citing \u201creports regarding mishandled customer funds and alleged US agency investigations.\u201d On Nov. 10, Tether&#8217;s Ardoino also said the company have no\u00a0\u201cplans to invest or lend money to FTX\/Alameda.\u201d<\/p>\n<p>As reported by Cointelegraph, new details about the failed agreement between Binance and FTX were revealed on Dec. 9. In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">twitter<\/a> thread, CZ<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1601140809491185664\"> referred<\/a> to Bankman-Fried as a \u201cfraudster,\u201d saying Binance exited its position in FTX in July 2021 after becoming \u201cincreasingly uncomfortable with Alameda\/SBF.\u201d SBF was \u201cunhinged\u201d at the exchange pulling out, according to Binance&#8217;s CEO. <\/p>\n<p>In response, SBF claimed that Binance \u201cthreatened to walk at the last minute\u201d, accusing CZ of lying about his role in the deal.<\/p>\n<p>On Nov 11, FTX Group and nearly 130 companies &#8211; including FTX Trading, FTX US, under West Realm Shires Services, and Alameda Research &#8211; filed for bankruptcy in the United States citing a &#8220;liquidity crunch\u201d. <\/p>\n<p>Since FTX&#8217;s bankruptcy, SBF has been named in seven class action lawsuits and numerous probes and investigations, including a market manipulation probe by federal prosecutors. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sbf-tried-to-destabilize-crypto-market-to-save-ftx-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SBF tried to destabilize crypto market to save FTX: Report &#8220; Tether executives and Binance CEO Changpeng \u201cCZ\u201d Zhao worried that Sam Bankman-Fried (SBF), former FTX CEO, was attempting to destabilize the crypto market aiming to save the now-bankrupt exchange, according to reports on Dec. 9. Messages seen by The Wall Street Journal of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":524795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/e3b62c75-0fd1-4954-80c4-a64a623b32ca.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74860,135234,117,36041],"class_list":["post-524794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-cryptocurrency-exchange","tag-ftx","tag-business","tag-tether"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/524794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=524794"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/524794\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/524795"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=524794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=524794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=524794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}