Key Factors Behind Partnership Breakdown
In a recent in-depth interview, Binance founder CZ revealed the core reasons behind the termination of FTX collaboration. After initial rejection of a joint venture proposal during their 2019 Singapore meeting, Binance eventually invested in acquiring 20% of FTX shares through subsequent negotiations.
The turning point emerged from a series of controversial incidents during cooperation. Key issues included alleged systematic employee poaching by FTX and defamatory public statements against partner entities. These behaviors ultimately prompted Binance to completely withdraw from the investment in July 2021.
Legal Disputes and Industry Impact
- Ongoing litigation proceedings against FTX continue
- Industry focus centers on bankruptcy liquidation mechanisms
- Incident highlights importance of compliance management in crypto sector
Key Pathways for US Market Access
Discussing Binance's global development strategy, CZ emphasized the importance of entering the US market. He noted that obtaining executive clemency might become a crucial breakthrough point, though the process involves high uncertainty.
Legal experts explained that clemency applications require specialized legal teams to prepare comprehensive petitions focusing on key elements like prosecutorial reasonableness and the applicant's prior record. While presidents traditionally issue pardons on their final day in office, there have been cases of advance pardons in recent years.
CZ specifically noted that the current US political landscape might influence the outcome. The sitting president's legal challenges and potential electoral considerations could all become significant variables affecting the decision-making process.