Odaily News The Big Short author Michael Lewis disclosed in his new book Going Infinite that in the face of increasing regulatory scrutiny, especially the regulatory agencies strict requirements for FTX investor lists and their personal details, SBF believes that maintaining CZ as a FTXs second-largest shareholder is no longer in the companys long-term interests. A former Binance employee revealed: “When asked about CZ’s private information such as family and residence, CZ was reluctant to provide it.” In order to avoid this regulatory pressure, SBF proactively proposed a buyback to CZ in mid-2021 For the FTX shares it purchased for US$80 million at the end of 2019, CZ raised an asking price of US$2.2 billion. Despite the high price, SBF agreed to pay. But when the two parties were about to sign a formal agreement, CZ suddenly requested an additional $75 million. SBF agreed to this additional fee and ultimately completed the share buyback.