“Stop now, don’t do more damage,” CZ Told SBF

December 09, 2022

Story - Jai Pratapp

Binance CEO had sent an alarming text to SBF a day before FTX filed for bankruptcy, New York Times reported.

Changpeng Zhao had directly accused SBF of destabilizing Tether through a trade on Alameda.

“Stop now, don’t do more damage,” Binance CEO wrote in a group chat with former FTX CEO and other crypto executives on November 10.

CZ pointed to a $250,000 trade by Almeida that he said was designed to destabilize Tether. To which SBF replied, “What am I doing to stablecoins?”

SBF questioned CZ, “Are you claiming you think $250k USDT trading will bring it down?

Zhao replied that he does not think a trade of that size would be successful in destroying Tether, but it could still cause problems

“My honest advice: Stop doing everything,”Binance CEO wrote. “Put on a suit, and go back to DC, and start answering questions.”