To respond to regulatory scrutiny, SBF repurchased the FTX shares held by Zhao Changpeng for $2.275 billion in 2021

ChainCatcher news, Michael Lewis, the author of "The Big Short," revealed in his new book "Going Infinite" that in the face of increasing regulatory scrutiny, particularly the strict demands from regulators regarding the FTX investor list and their personal details, SBF believed that maintaining Changpeng Zhao as the second-largest shareholder of FTX was no longer in the company's long-term interest. A former Binance employee disclosed, "When asked about Changpeng Zhao's family and residence, he was reluctant to provide that private information."

To avoid this regulatory pressure, SBF proactively proposed to buy back the FTX shares that Zhao had acquired for $80 million at the end of 2019. Zhao quoted a price of $2.2 billion. Despite the high price, SBF agreed to pay. However, just as both parties were about to sign the formal agreement, Zhao suddenly requested an additional $75 million. SBF agreed to this extra fee and ultimately completed the equity buyback.