Binance’s Billionaire CEO Casts Himself as Crypto’s New Savior

Changpeng ‘CZ’ Zhao announces plans for a ‘recovery fund’
Binance has 50% share of all crypto trading: CryptoCompare

WATCH: Binance CEO “CZ” Zhao discusses how to rebuild trust in the crypto space following the collapse of Sam Bankman-Fried’s FTX.com.Source: Bloomberg

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By Philip Lagerkranser and Emily Nicolle

November 14, 2022 at 9:16 PM UTC

This article is for subscribers only.

Among the many things shattered in the collapse of FTX was the image of Sam Bankman-Fried as the crypto industry’s benevolent king. Now the man who hastened his demise with a tweet appears to want that job for himself.

Changpeng “CZ” Zhao, head of Binance Holdings Ltd., issued a flurry of tweets and comments in recent days seemingly aimed at bolstering his credentials as crypto’s standard-bearer, capping them Monday by announcing a fund to aid crypto firms in crisis. That triggered a rebound in digital-asset prices even though he was short on detail. CZ also unveiled plans to help set up a global industry body for major crypto firms.