The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 18 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
CZ: Binance fully exited FTX in July 2021, 18 months before collapse
“The deal was finalized and the transfer was done in July, 20, 21. And this is like a full year and a half before they had issues.”
CZ: Binance wants rival exchanges to succeed to split regulatory scrutiny
“I actually want multiple exchanges to be successful in the industry because then we won't be the ones that get targeted all the time.”
CZ: Binance valuation is in the neighborhood of $200 billion
“Probably less than that, but it's in the neighborhood.”
CZ: U.S. needs Binance access to become global crypto capital
“If U.S. Wants to become the capital of crypto in the world, you cannot have not, you cannot not have the largest player. You cannot not, you cannot have U.S. People not be able to access the largest liquidity pool. In crypto.”
Sacks: SBF lobbied regulators to ban Binance while licensing FTX
“SPF was trying to get Binance and competitors like that banned while SPF would be one of the sole people to get the license.”
CZ: Grateful to no longer run Binance because it affords more time
“I'm actually very grateful that I don't have to run Binance anymore and I have more time.”
CZ: Binance DOJ plea negotiations involved 12 to 20 lawyers daily for over a year
“It took, like, the negotiations, like, was basically daily calls with, like, 12, 20 lawyers on call for, like, more than a year.”
CZ: Binance is severely limited in the U.S. without a pardon
“Without a pardon, Binance, Binance is severely limited to do stuff in the US.”
CZ: Binance relies heavily on remote work and paying employees in Bitcoin
“When I joined the Ben Reeves said, look, we have no company. We have no office. Everyone works remotely. We just pay everybody in Bitcoin. And so that's something I learned from that company. And I still look, that's still very heavily used in Binance today.”
CZ: Binance sold 60% of BNB tokens for $15M in its ICO
“We launched a new token, BNB. It's still there today. And then we said, look, we're going to sell we're going to sell 60% of it for fifteen million dollars.”
CZ: Binance became the top crypto exchange within five months of launch
“Five months after we started and we're kind of, we were number one exchange already.”
CZ: Daily active users, not revenue or volume, is the primary North Star metric
“I think it's really daily active users. It's not trading volume. It's not revenue.”
CZ: Binance had 30% Chinese users before 2017 regulatory ban
“At the time China was one of the largest user base they had like 30 something percent user base from China, but we still have like 70% from the rest of the world.”
CZ: Around 20,000 buyers participated in the Binance ICO
“The data shows that there was about 20,000 people who bought in the ICO.”
CZ: Stepping down as Binance CEO was one of two times he cried
“Stepping down was really, really hard. I actually cried out of it. And the only other time I really cried was like, you know, when my father passed away a few years ago.”
CZ: Forbes put Changpeng Zhao on its cover 7-8 months after Binance launched
“That came in early about six, seven, seven, eight months in, Forbes put me on the cover.”
CZ: BNB token ICO launched at 10 cents before dropping to 6 cents
“So BNB ICO at like about 10 cents. It dropped to like zero point zero dropped to six cents.”
Friedberg: FTX left up a video of SBF quantitative trading on Binance
“For some reason FTX has left up all of their videos on YouTube from three years ago called quantitative trading seven and a half thousand cell wall of Bitcoin on Binance. It's a 17 and a half minute YouTube video of SBF trading arbitrage across markets.”