How Binance and CZ Built a Back Door Into FTX

Binance helped prop up FTX at the very beginning of FTX's journey. CZ had starved FTX of revenue, had done 0% trading fees and they took a bunch of volume from FTX with that. Then all of a sudden CZ was like, oh, you don't want this anymore. We're going to sell it because we see this FTT token as quite similar to Luna, which blew up. And so people got scared and a bunch of money was drained out of FTX. All 134 of their firms file for bankruptcy; Bfron resigns as CEO John Ray, who oversaw liquidation of Enion.