A certain CEX founder: I haven’t seriously considered acquiring another CEX; I’m not very interested in helping its founder.

Gate News message, April 8, a CEX founder said in his autobiography and memoir 《Freedom of Money》 that, in communications before the platform’s attempt to acquire another CEX in November 2022, the other founder had requested tens of billions of dollars in funding needs, but from the outset he had no intention of truly moving forward with the deal. The founder said that the letter of intent he signed was only a non-binding form document, and that the team was only used to evaluate data and made no commitments. Meanwhile, he believes the key point behind the platform’s collapse was that its affiliated company’s former CEO, Caroline Ellison, proposed a $22 buyback of the platform token FTT; after exposing the price floor, it triggered market shorting, and within a short period about $6 billion in funds flowed out. In addition, the founder mentioned that there had been an industry communications group created by the other platform’s former executives, whose members included executives from multiple trading platforms; the group later drew the attention of U.S. regulators, but he said no relevant collusion or market manipulation was found.