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CZ
2026-09-28 08:30:59

CZ revisits FTX, prison, pardon and Hyperliquid rivalry in wide-ranging podcast interview

Binance founder Changpeng Zhao, better known as CZ, used a long-form podcast interview released on Sept. 25, 2026 to revisit several of the most disputed episodes of his career: Binance’s early rise, the tweet tied to FTX’s collapse, his four-month prison sentence, the 2025 presidential pardon he received, the Oct. 10, 2025 market crash, and the competitive debate around Hyperliquid and decentralized exchanges. CZ rejected the claim that a single Binance tweet brought down FTX, saying the exchange failed because it misused customer funds and had likely already become insolvent before his post, citing a CoinDesk report published days earlier. He also said Binance had received about $2.1 billion in cash, BUSD and FTT when it exited its FTX equity position. On regulation and enforcement, CZ said he had never met or spoken with Donald Trump and described his pardon process as one handled through lawyers, with a petition filed in April 2025. He also defended Binance’s response to the Oct. 10 selloff, saying the exchange was not the cause of the broader collapse and that Binance paid about $800 million to compensate affected users despite having no obligation to do so. On competition, CZ said crypto remains far from saturated, arguing that penetration is still below 1% when measured against net assets. He said he welcomes Hyperliquid and other DEXs if they help expand the market.

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CZ revisits FTX, prison, pardon and Hyperliquid rivalry in wide-ranging podcast interview