CZ says a single tweet did not directly cause FTX to collapse

Binance founder Changpeng Zhao, better known as CZ, said in an interview with When Shift Happens that a single tweet could not directly bring down a company that was operating soundly. He said FTX’s failure stemmed from its own liquidity shortfall and misuse of customer funds, not from one public post on social media. According to CZ, his action at the time was limited to disclosing Binance’s plan to gradually sell its remaining FTT holdings, and he did not expect the fallout to become so large. The comments revisit one of the most disputed moments in the FTX crisis, which unfolded after concerns over the exchange’s balance sheet intensified. CoinDesk had already reported earlier that FTX might be insolvent. The Techub item cited @WuBlockchain in relaying the remarks.