Crypto Chronicles: CZ’s Hilarious Insights on FTX and Terra’s Tumultuous Tango!

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Ah, the illustrious Changpeng Zhao, or as the crypto aficionados affectionately dub him, CZ! The co-founder of Binance, now a former CEO, has found himself in a rather sticky situation with the US authorities. But fear not, dear reader, for he has taken to Twitter to regale us with tantalizing tidbits from his forthcoming literary masterpiece!

In a delightful twist of fate, CZ inadvertently spilled the beans while pondering the rather scandalous connections between FTX, 3AC, and the infamous depeg of Terra’s UST stablecoin. One can only imagine the drama that unfolded in May 2022, akin to a Shakespearean tragedy, but with more digital coins and fewer daggers.

CZ’s Curious Commentary on the FTX Fiasco

Our dear Zhao, in a moment of sheer brilliance, responded to an X post from an FTX creditor, the ever-so-eloquent @Mbottjer. This individual had the audacity to claim that the bankrupt crypto fund, Three Arrows Capital (3AC), is demanding a staggering $1.58 billion from the now-defunct FTX exchange. Apparently, they liquidated their assets faster than one can say “cryptocurrency crash!”

Interesting turn of events. I didn’t know this before, but not surprised either as they (FTX/3AC) were “close”.

I am curious if FTX had anything to do with the LUNA/UST crash/depeg in May 2022?

— CZ 🔶 BNB (@cz_binance) March 14, 2025

“3AC claims it only recently discovered evidence that FTX liquidated $1.53B of 3AC’s assets just two weeks before their own liquidation,” quipped @Mbottjer, as if this were a plot twist in a particularly riveting soap opera.

Our protagonist, Changpeng Zhao, responded with a delightful mix of surprise and intrigue, pondering whether FTX had a hand in the catastrophic collapse of the LUNA token and UST stablecoin. Ah, the drama of May 2022! It sent Bitcoin tumbling down like a lead balloon, taking the entire crypto market along for the ride.

Insights from CZ’s Upcoming Literary Work

When a keen observer suggested that this entire debacle would make for a splendid documentary series, CZ, ever the thoughtful author, confessed that he had indeed been mulling over this very crash while penning his book: “I was thinking about this when writing this section of the book.”

However, our dear CZ, ever the cautious scribe, admitted that he had yet to uncover any solid evidence linking FTX to the calamity. “I didn’t want to speculate; there were rumors, but I never saw hard evidence,” he mused, channeling his inner detective.

I was thinking about this when writing this section of the book… I didn’t want to speculate; there were rumors, but I never saw hard evidence.

— CZ 🔶 BNB (@cz_binance) March 14, 2025

In a previous revelation, CZ disclosed that he has crafted a tome of 114,000 words, which he has had printed on paper—how quaint! He anticipates that it will require “another 3x effort” to polish this literary gem to perfection. One can only hope it includes a few witty anecdotes and perhaps a dash of scandal!

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2025-03-14 14:13