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Which is why, when Sam took in the situation, he decided that Binance’s strategy was unsustainable. That the smart thing to do was to be the world’s most law-abiding and regulator-loving exchange. FTX could use the law, and the regulators, to drive crypto trading from Binance and onto FTX. If countries did not…
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
CZ was Changpeng Zhao, CEO of the crypto exchange Binance. Born in Jiangsu province, he was raised, from adolescence, in Canada, and educated there, returning eventually to China, with Canadian citizenship. He’d run through some ordinary jobs on the fringes of high finance—including a stint as a developer at Bloomberg—before landing as the chief te
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
In the same month, SushiSwap, a fork of Uniswap, was launched. SushiSwap conducted a “vampire mining” attack to migrate liquidity away from Uniswap by introducing the SUSHI token to incentivize users. Not to be outdone, Uniswap did a UNI token airdrop in September 2020, resulting in a windfall profit for all users who interacted with the Uniswap pr... See more