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Podcast interview

Changpeng Zha
2026-09-29 03:32:44

CZ revisits FTX collapse, Launchpad criticism and his prison fears in podcast interview

Binance founder Changpeng Zhao, better known as CZ, used a Sept. 25 appearance on the podcast When Shift Happens to revisit several of the most contested episodes of his career. He spoke about growing up in a low-income immigrant family in Canada, building Binance from an existing 15-to-20-person team in 2017, and how the exchange reached the top of the global market within roughly six months. Zhao also addressed why many listed token projects disappoint investors, whether retail traders can still win when projects spend on market makers, launchpads and exchange access, and why he rejects the idea that accredited-investor rules protect ordinary people. A large part of the conversation focused on FTX. Zhao pushed back on Sam Bankman-Fried’s claim that a Nov. 6, 2022 tweet from CZ killed FTX, arguing that no real company collapses because of a rival’s post. He said the tweet was meant as a disclosure that Binance planned to sell its remaining FTT, which it had received as part of exiting its FTX equity investment for about $2.1 billion in cash equivalents including BUSD and FTT. Zhao said he did not expect the market reaction that followed. He also described the hardest periods of his life, including BNB trading below its ICO price for about two and a half weeks and his dealings with U.S. authorities, and said his biggest fear before prison was that new charges could keep being added indefinitely.

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CZ revisits FTX collapse, Launchpad criticism and his prison fears in podcast interview