Binance founder Changpeng Zhao, better known as CZ, said in a Fox Business interview on April 14 that Sam Bankman-Fried sought emergency financial support shortly before FTX collapsed. According to Zhao, the request came in an informal conversation and ranged from $2 billion to $6 billion, underscoring how severe the exchange’s funding stress may have been in its final days.
New detail on FTX’s final days
CZ said it was highly unlikely that anyone would simply have that scale of capital readily available on short notice. He described the broader situation as one filled with lies and fraud, suggesting that the internal problems surrounding FTX were deeper than many observers initially understood. While he did not present the exchange as a formal bailout process, the size of the request alone points to the magnitude of the crisis facing FTX before its failure.
The collapse of FTX sent shockwaves across the crypto market and intensified debates over exchange transparency, customer asset protection, and risk controls. Zhao’s latest comments add another layer to the timeline of events, especially regarding how major industry players viewed the possibility of intervention as conditions rapidly deteriorated.
CZ on writing a book in prison
Zhao also spoke about his experience writing while in prison. He said he had access to a terminal with a messaging program that allowed only 15-minute typing sessions, with no copy-and-paste function and a limit of 3,000 characters per message.
Those restrictions forced him to think and write quickly, shaping a more concise drafting process. Zhao said the conditions ultimately helped him complete the first draft of his book. The account offers a glimpse into how he continued documenting his thoughts even under highly constrained circumstances.
Together, the interview revisits a pivotal moment in crypto history while also highlighting Zhao’s personal reflections after the turmoil. As more firsthand accounts continue to emerge, the final chapter of the FTX saga remains under close scrutiny.