The Wall Street Journal has discovered texts from a Signal group chat named “Exchange coordination” that reveal a disagreement between CZ and SBF on November 10 regarding Tether’s stablecoin USDT. This information was obtained by Cointelegraph.
Sam Bankman-Fried (SBF), the former CEO of FTX, reportedly tried to disrupt the cryptocurrency market on December 9 in an effort to salvage the now-defunct exchange, which worried Tether officials and Binance CEO Changpeng “CZ” Zhao, according to sources.
The Wall Street Journal has discovered texts from a Signal group chat named “Exchange coordination” that reveal a disagreement between CZ and SBF on November 10 regarding Tether’s stablecoin USDT. This information was obtained by Cointelegraph.
According to the article, CZ and other group members were worried that Alameda Research was focusing its trading on depegging the stablecoin, which would have a detrimental effect on cryptocurrency values. SBF was apparently challenged by the CEO of Binance, who said, “Stop attempting to depeg stablecoins. And put an end to everything. Stop right away to prevent further harm.
SBF denied the accusations in response to the WSJ. The Signal group includes people like Paolo Ardoino, the chief technological officer of Tether, and Jesse Powell, a co-founder of Kraken.
The claimed fight apparently happened the day after Binance declared it wouldn’t support ailing rival FTX, citing “claims involving mismanaged client cash and purported US government investigations.” On November 10, Ardoino further clarified that Tether had “no intentions to invest in or lend money to FTX/Alameda.”
