Binance CEO tweets regret at not shorting FTX token

Binance CEO tweets regret at not shorting FTX token

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The chief executive of Binance said he regretted not betting against the token tied to the failed FTX cryptocurrency exchange.

Changpeng Zhao, the co-founder and CEO of Binance who is known by initials CZ, tweeted the regret in response to a satirical tweet about there being a sequel to the movie, The Big Short.

His tweet referred to “still having a bag” in the token, dryly noting a call by former FTX CEO Sam Bankman-Fried ended up being “very expensive.”

CZ is considered to have put the wheels in motion to FTX’s demise when he said he would sell the FTT token.

FTX filed for bankruptcy protection after Binance decided not to go through with a tentative agreement to buy it.

The FTT token was trading hands at about $1.50, down from about $22.50 just a week ago, according to CoinMarketCap data.

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