CZ Recalls Investment History with SBF: FTX Once Proposed Forming a Joint Venture

Odaily News CZ recalled his investment history with SBF in a recent interview reposted on platform X. He stated that he first met SBF at a 2019 conference in Singapore. At that time, FTX proposed forming a joint venture, which was initially rejected. A subsequent proposal led to Binance's investment in purchasing a 20% stake in FTX. Some issues arose during this process, and related lawsuits are still ongoing. He is not clear about FTX's bankruptcy proceedings and compensation situation. CZ also revealed that applying for a U.S. presidential pardon requires lawyers to draft a petition stating the reasons, such as whether there was over-prosecution or if the individual has good character. The final decision rests entirely with the U.S. President, and there is no fixed or standardized procedure. Obtaining a pardon is crucial for Binance's compliant entry into the U.S. market. He also believes that Trump's own legal issues might, to some extent, aid the success of the pardon application.