‘I knew he was desperate’ — Binance CEO CZ opens up on SBF relationship By Cointelegraph

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‘I knew he was desperate’ — Binance CEO CZ opens up on SBF relationship

Binance CEO Changpeng “CZ” Zhao knew Sam Bankman-Fried was in a desperate situation when the former CEO of the now-bankrupt FTX exchange called him for a bailout.

CZ opened up on the events that nearly saw Binance come to the rescue of its ailing industry competitor as a credit crunch sent FTX into an inescapable spiral. Speaking at the Milken Institute’s fourth annual Middle East and Africa summit, CZ reflected on the fateful call with SBF as the latter looked to save his struggling exchange: