CZ Responds To Reuters, US Investigates 3AC, Texas Authorities Investigate Sam Friedman-Bank

Written by Crypto University

October 19, 2022

CZ Responds To Reuters

Changpeng “CZ” Zhao, the CEO of Binance, responded to a Reuters journalist in a blog on the Binance website. CZ felt that the reporter had misrepresented Binance and crossed ethical lines when they threatened to reveal the identity of his children.

“Another flagrantly inaccurate ‘report’ on Binance from the usual suspects. We felt they crossed a serious line. Threatened to doxx my family. So the team agreed not to engage. Read my response below, along with more details about how I lead Binance,” posted CZ on his Twitter page.

According to CZ, the writer has published multiple pieces about Binance based on unnamed sources, and their newest line of inquiry has entered “indefensible terrain.” His response is available on the Binance blog website.

The U.S. Investigates 3AC 

U.S. Regulators are investigating the bankrupt cryptocurrency hedge fund Three Arrows Capital. The Commodity Futures Trading Commission (CTFC) and the Securities and Exchange Commission (SEC), are searching for legal misconduct and violations.

Three Arrows Capital (3AC) was heavily invested in the Terra Luna project. When the Terra Luna blockchain collapsed in May, the company lost a lot of its assets and could no longer stay in business. 3AC filed for bankruptcy in July. 

Su Zhu and Kyle Davies, the creators of Three Arrows, have not responded to inquiries made by the media. The location of the founders is still unknown. Three Arrows was a significant player in the cryptocurrency market during its height when it had a couple of billion dollars under management.

Texas Authorities Investigate Sam Friedman-Bank

According to a state filing, Texas authorities are looking into alleged securities breaches at cryptocurrency exchange FTX, its FTX US business, and founder and CEO Sam Bankman-Fried. The regulators are investigating whether yield-bearing accounts offered by FTX US could be deemed unregistered securities, as revealed in a document connected to Voyager Digital’s bankruptcy proceedings.

“The Enforcement Division is now investigating FTX Trading, FTX US, and their principals, including Sam Bankman-Fried,” wrote Joseph Jason Rotunda, director of enforcement for the Texas State Securities Board.

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