Bankman-Fried has stepped down as CEO of FTX Group.
Binance CEO “CZ” announced the creation of an industry recovery fund.
Following Sam Bankman-Fried’s FTX insolvency proceedings, Binance CEO and co-founder Changpeng Zhao (CZ) stated solid and clear laws are needed for the cryptocurrency sector. CZ, a crypto billionaire thinks that it’s not only the government’s job to ensure consumer safety; it’s everyone’s.
According to Bloomberg, during a meeting of G20 leaders in Bali, Zhao stated, “we’re in a new industry, we’ve seen in the past week, things go crazy in the industry.”
In addition, Zhao said:
“I think the industry collectively has a role to protect consumers, to protect everybody. So it’s not just regulators. Regulators have a role but it’s not 100% their responsibility.”
Fall of an Empire
Bankman-Fried’s FTX Group voluntarily initiated Chapter 11 bankruptcy proceedings in the District of Delaware on November 11, prompting CZ to make the abovemention
We współpracy z: https://thenewscrypto.com/binance-ceo-cz-emphasizes-consumer-safety-at-g20-summit/
