Trades made by Alameda Research were reportedly focusing on depeg Tether’s stablecoin.
Ana Paula Pereira
Tether executives and Binance CEO Changpeng “CZ” Zhao worried that Sam Bankman-Fried (SBF), former FTX CEO, was attempting to destabilize the crypto market aiming to save the now-bankrupt exchange, according to reports on Dec. 9.
Messages seen by The Wall Street Journal of a Signal group chat named “Exchange coordination” reveals an argument between CZ and SBF on Nov. 10 about Tether’s stablecoin USDT.
According to the report, CZ and others in the group worried that trades made by Alameda Research were focusing on depeg the stablecoin, which would have a ripple effect in crypto prices. Binance CEO reportedly confronted SBF:
To finish at original source; https://cointelegraph.com/news/sbf-tried-to-destabilize-crypto-market-to-save-ftx-report.
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