Breaking: CZ Says Luna Collapse ‘Very Different’ From ‘Ponzi’ FTX, Here’s Why – Crypto News – Crypto News
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Breaking: CZ Says Luna Collapse ‘Very Different’ From ‘Ponzi’ FTX, Here’s Why – Crypto News

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CZ Comments On FTX Collapse: CZ made some interesting comments on the future of crypto at the Binance meet up in Athens on Friday. The Binance The CEO compared the evolution of the crypto ecosystem with the development of the internet over the last few decades. He said that when he entered the market, it was not about any particular crypto but it was about the new technology for money.

‘FTX Meltdown Different From Luna Collapse’

The Binance CEO said the FTX management lied about not taking user money, saying it was a sort of a Ponzi scheme. He said all industries go through ups and downs in early phase. All the new industries have successful and failed projects, he explained. On the flip side, CZ said the Terra Luna project was mismanaged similar to the Lehman brothers. He was speaking at a fire side chat at the Binance Meet-up Athens 2022,

The post Breaking: CZ Says Luna Collapse ‘Very Different’ From ‘Ponzi’ FTX, Here’s Why appeared first on CoinGape,

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