although I've somehow hated CZ for always intervening with the market. But this one is an exception and it's good that he has exposed this kid and his cohorts.
If this haven't been talked about, I'm sure that many poor innocent depositors on FTX would have no idea freaking idea that their money is being played on.
CZ usually tries to do that constantly, sometimes he is right and does the right thing, sometimes he is wrong and mistakes things but at the end of the day his values are true to crypto and his aims are great for it as well.
He wants everything to stay the same and be good, which is a good reason to attack or at least warn and that is what he did here as well and it worked out very well for people who wanted to get out. He had absolutely no reason to keep FTX alive, why would he be the one that works so hard for it, and that means we are talking about his own money would have gone to save everyone, he didn't have that responsibility so he should not be considered a reason for this.
I'm starting to have that sense in him that he's genuine in his words. But it's also hard to play on the trust of everyone especially if you're owning the huge and most known exchange in the world. The thought of having the kind of manipulation that we used to see before and until today can't be gone. I do understand the backing out when he had thought of helping FTX, it's already sinking and there's no way it could be uplifted so he's left them.
It's hard to know if CZ is doing the right thing for the community or he is doing it for his own benefit, the bankruptcy of the FTX exchange will bring a lot of benefits to binance, FTX was once considered the most formidable competitor of Binance.
We have a lot of exchanges but binance almost dominates the crypto market and if it continues like that you will soon start to hate him more because of Binance's monopoly on the market. I can't say that his actions are commendable, but as for him being the initiator of the release of the proofs of reserve, I really applaud it.
We can give him the benefit of the doubt because he do really helped a lot of people this time and FTX wasn't transparent when they're on the verge of falling down.
If it's not for him, there could be more people that will deposit to FTX and it could be massive wealth and life savings that will be gone for its entirety if he hasn't exposed them.