CZ: The exit from FTX equity investment is due to SBF poaching employees and malicious defamation, and the related lawsuit is still ongoing
The founder of Binance, CZ, stated in an interview with the All-In podcast, "I first met SBF at the Singapore conference in 2019. FTX had proposed forming a joint venture (JV), which was initially rejected. A subsequent proposal led to Binance investing in a 20% stake in FTX. During this process, some issues arose, including malicious defamation and poaching of employees, leading to our exit from the investment in July 2021, and we were not deeply involved as investors. There are still ongoing lawsuits, and the bankruptcy proceedings and compensation situation for FTX remain unclear."Additionally, CZ revealed that applying for a pardon requires a petition written by a lawyer, stating reasons such as whether there is excessive prosecution and whether the parties have good character, etc. The final decision rests entirely with the President of the United States, and there is no fixed or standardized procedure. Historically, most U.S. presidents typically issue pardons on their last day in office, but Biden has also granted "early pardons." CZ believes that obtaining a pardon is crucial for Binance to enter the U.S. market smoothly and compliantly, and he also thinks that the legal issues faced by Trump may, to some extent, aid in the success of the pardon application.