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Binance’s CZ Reflects on FTX’s Role in Terra’s Collapse in New Book
Changpeng Zhao, widely known as CZ and the former CEO of Binance, has shed light on a potential connection between the collapse of FTX and the crypto market crash of 2022. Through his social media post on X, CZ addressed an allegation made by Three Arrows Capital that FTX liquidated $1.53 billion worth of assets shortly before its bankruptcy declaration in July 2022.
Interesting turn of events. I didn’t know this before, but not surprised either as they (FTX/3AC) were “close”. I am curious if FTX had anything to do with the LUNA/UST crash/depeg in May 2022?
— CZ 🔶 BNB (@cz_binance) March 14, 2025
This new development has raised speculation about FTX’s involvement in significant market disruptions that year. Potential Connection to Terra’s UST and LUNA Collapse Discussions heightened after CZ asked if FTX had any involvement in the May 2022 collapse of Terra’s UST stablecoin and its related LUNA token . A collective loss of billions in both market value occurred as these tokens failed. While no direct evidence has surfaced, CZ’s comments have reignited debates about the underlying causes of the crisis that year.
CZ’s Upcoming Book Addresses These Events
As part of his upcoming book, CZ revealed that he had been exploring the events surrounding the 2022 market crash. He mentioned that he considered including a section on a potential FTX connection to the Terra collapse. However, due to a lack of concrete evidence, he decided not to speculate on unverified claims. Despite this, his insights into the industry’s turbulent past are expected to be a key aspect of his book.
Extensive Work on the Book Continues
CZ previously revealed that his book is already 114,000 words long and undergoing revisions. He estimates that rewriting and refining the content will require significant additional effort. Given his firsthand experience in the crypto sector, many anticipate that the book will offer a detailed account of pivotal moments in the industry’s history.
Tags: Binance’s CZ Crypto market cryptocurrency FTX
Source: https://cryptonewsland.com/binances-cz-reflects-on-ftxs-role-in-terras-collapse-in-new-book/
