Binance is a global crypto exchange run by 45 year old Chinese Canadian billionaire, Chiang Peng Jiao, AKA CZ. Sam Bankman Fried took up a sizable stake in the upstart just 6 months after the company began operations. Both founders never publicly admitted why they parted ways. But reports at the time indicated that Sam may have feared regulatory action on B finance.
In today's episode for 10th November 2022, we offer an oversimplified explanation of how the second-largest crypto exchange platform almost went bust.