SBF Suggests ZachXBT Could Be CZ in Cryptic X Exchange

The comment followed a heated back-and-forth that began when ZachXBT challenged SBF over a 2023 BBC report alleging that the FTX founder had authorized a bribe to unfreeze $1 billion in crypto funds held by Chinese officials.

ZachXBT wrote: “Riddle me about the $40 [million] transfer to Chinese authorities you hid from the public.”

SBF’s account responded: “Chinese exchanges stole $1 [billion] and offered to give $960 [million] back. What should we have done — said ‘nah, keep the full $1 [billion]’?”

The exchange quickly escalated.

ZachXBT replied: “A Bahamian exchange stole $8 [billion] and offered to give users only a % back. What should we have done — said ‘nah, pardon the founder’?”

SBF then fired off the now-viral message invoking CZ’s name.

ZachXBT shot back, referencing SBF’s long-running feud with Binance’s founder: “After three years, you somehow still dream about CZ every day.”

FTX vs Binance

While SBF’s “Come on, CZ” remark may have been sarcastic, it comes amid renewed tensions between the FTX estate and Binance.

Last year, FTX sued Binance and CZ to recover assets linked to pre-collapse dealings, alleging that $1.8 billion was “fraudulently transferred” by FTX management to Binance.

Rival exchange Binance, led at the time by CZ, initially moved to acquire FTX’s overseas arm as the company faced a liquidity crisis in November 2022, but withdrew from the agreement shortly after announcing the plan.

“By this lawsuit, the Plaintiffs seek to recover, for the benefit of FTX’s creditors, at least $1.76 billion that was fraudulently transferred to Binance and its executives at the FTX creditors’ expense,” FTX administrators stated in court filings.