Binance’s CZ Reflects on FTX’s Role in Terra’s Collapse in New Book

• CZ addressed potential links between FTX, 3AC, and Terra’s UST crash in his upcoming book but avoided speculation due to a lack of evidence.
• Three Arrows Capital recently claimed that FTX liquidated $1.53 billion of its assets shortly before its bankruptcy, sparking renewed scrutiny.
• CZ continues revising his book, which already spans 114,000 words, aiming to document critical events from the crypto industry’s past.

Changpeng Zhao, widely known as CZ, has shed light on a potential connection between the collapse of FTX and the crypto market crash of 2022. Through his post on X, the former Binance Chief Executive addressed the Three Arrows Capital allegation that FTX sold off $1.53 billion worth of assets shortly before its bankruptcy declaration in July 2022. 

This new development has raised speculation about FTX’s involvement in significant market disruptions that year.

Discussions heightened after CZ asked if FTX had any involvement in the May 2022 collapse of Terra’s UST stablecoin and its related LUNA token. A collective loss of billions in both market value occurred as these tokens failed. While no direct evidence has surfaced, CZ’s comments have reignited debates about the underlying causes of the crisis that year.

CZ’s Upcoming Book Addresses These Events part of his upcoming book, CZ shared that he has been exploring the events surrounding the 2022 market crash. He mentioned that he had considered including a section on a possible FTX connection to the Terra collapse. However, due to a lack of concrete evidence, he decided not to speculate on unverified claims. Despite this, his insights into the industry’s turbulent past are expected to be a key aspect of his book.

CZ previously revealed that his book is already 114,000 words long and undergoing revisions. He estimates that rewriting and refining the content will require significant additional effort. Given his firsthand experience in the crypto sector, many anticipate that the book will offer a detailed account of pivotal moments in the industry’s history.

Tags:Binance’s CZ Crypto market cryptocurrency FTX