FTX vs Binance. Conflict Has Been Brewing For A Long Time.
08 Nov 2022, 18:05
🟥 FTX vs Binance
Conflict Has Been Brewing For A Long Time
Back in 2017, CZ founded Binance and since its launch, many exchanges (Coinbase, BitMEX, Gemini, etc.) have tried unsuccessfully to take over its crown.
In May 2019, a new player entered the crypto space - FTX_Official. They had the savvy and competitiveness to quickly rise to the top of the crypto market.
Binance invested in FTX back in 2019. However, as FTX continued to rise rapidly during the last bull market, CZ felt they were becoming a threat.
FTX is the #2 exchange behind Binance.
While Binance is still 10 times larger than FTX volumes, FTX's growth rate is certainly worrying for CZ.
2 events that opened up SBF/FTX to attack from CZ/Binance:
▫️ The first was after the SBF published proposals to regulate cryptocurrencies.
▫️The second was when CoinDesk published an article saying that most of the $14.6 billion in assets is their own FTT token, which the company prints itself.
❔ Which exchange do you think will triumph?