NYT Profile: CZ Details Binance's Role in FTX Collapse and $2B USD1 Deal
- —Zhao said the $500 million FTT sale was planned and Binance lost $500 million
- —MGX invested $2 billion in Binance in early 2025 using the USD1 stablecoin
- —Zhao disputes WSJ reporting that Binance requested USD1, saying MGX chose it
- —Binance paid $2.1 million to a lobbying firm for services including executive relief
Why it matters: The report ties the largest crypto exchange to political and regulatory risks, potentially increasing scrutiny on Binance and the broader market.
Source: Cryptonews.net