CZ Puts FTX Out of Business

The two largest shareholders in FTX, Sam Bankman free and CZ were at war with each other. They had a disagreement that led to the firm going bankrupt. The only option management had was to buy him out at an extraordinary valuation of close to 32 billion - less apparently a 15% discount. That stripped the balance sheet of assets. All of a sudden, in social media, CZ is asking for another $500 million. He wants to do a block trade of FTT or proprietary token of FTX,. once it converted back to fiat.