Binance's CEO says that the latest crypto deals had first decided on FTX

Binance's CEO says that the latest crypto deals had first decided on FTX

The bear market has led to a number of emergency sales. The CEO of Binance, Changpeng Zhao, now says that the stock exchange has probably first decided against its competitor FTX, who has talks to acquire the crypto loan Blockfi for only $ 25 million.

"The same offers you see in the news usually come to us first," said Zhao in a live streaming interview with Bankless. "I am quite confident that we are currently by far the largest liquidity reserve."

Although Zhao realized how important it is to help struck crypto companies, he emphasized that "not all projects are worth saving".

"We don't want to help companies that are poorly run out of trouble," he said. "We want to help the majority of companies that have a small liquidity crisis to survive this cycle, we are [Currently] speak to over 50 of them."

Many credit protocols in the area of ​​decentralized finances (Defi) have their headquarters in the United States. Zhao said the latest liquidity crisis had led to more transactions in the region. The crypto billionaire added that the US arm of FTX compared to Binance, which has a greater global reach, can concentrate on helping more local companies.

"It's not about us against you," said Zhao. "We [shoulder] do everyone what we can do."

Some in the industry believe that Zhao and FTX CEO Sam Bankman-Fried work together to support important parts of the crypto industry that are threatened in the course of the liquidity crisis. "SBF and other big players like CZ at Binance support this market. They both work tirelessly to support the industry," said a senior employee of a large investment bank who asked not to be mentioned recently in an interview with block works.

Zhao attributes the previous survival of Binance in the Baisse to the understanding of the cyclical nature of the markets and the maintenance of large barres reserves. He hopes to be able to use this opportunity to set talent and consolidate the market.

The stock exchange currently offers more than 2,000 job offers, half of them in engineering. Other positions are customer care, marketing, law and compliance.

"We want to reach around 8,000 people by the end of the year," said Zhao. "Sooner or later I would like to withdraw. I have been CEO from Binance for five years and I don't think that a CEO should do it for more than ten years."

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The post-binance CEO says that he had first decided on FTX with the latest crypto deals.