According to a recent report published by The Wall Street Journal, According to (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman-Fried’s (SBF) Alameda Research was attempting to “unpeg stablecoins.” Binance CEO Changpeng Zhao (CZ) is ostensibly inflicting “no more damage” on SBF, with crypto exchange executives reportedly being members of a signal chat group called “Exchange Adjustments.”
Binance CEO Stop Causing “More Damage” to SBF and “Stop Trying to Lower Stablecoin Pegs”
The Wall Street Journal (WSJ) reported an “exchange adjustment” on November 10, 2022, shortly before cryptocurrency exchange FTX filed for bankruptcy. revealed that there was a conversation between CZ and SBF on a Signal chat group called. A Signal group chat log appears to have been seen by his WSJ, and crypto executives such as his CTO Paolo Ardoino of Tether and Kraken co-founder Jesse Powell are said to be members of the group.
WSJ report details SBF accused of attempting to destabilize stablecoins, more specifically tethering (USDT) . WSJ reporters Patricia Kouzman, Alexander Osipovich, and Caitlin Ostroff said, “Tether officials and head of the world’s largest cryptocurrency exchange believe Sam Bankman Freed has destabilized stablecoins. I was wary of what they were trying to do,” he said. However, in a statement made to the WSJ, SBF denied the allegations in the report about his Signal chat conversation.
Kowsmann, Osipovich, and Ostroff detail how Binance CEO Changpeng Zhao confronted the SBF over an attempt to unpeg. “Stop trying to get rid of stablecoin pegs,” CZ was quoted as saying.
FTX co-founder Sam Bankman-Fried recently agreed to testify before the U.S. Congress. He also discussed the idea of launching a new FTT token with cryptocurrency advocate Ran Neuner on December 9. This weekend, The Block CEO Michael McCaffrey indicated that he had secretly received more than $43 million from SBF’s Alameda Research. Shark Tank star Kevin O’Leary revealed last Thursday that he received $15 million as a spokesperson for FTX.
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