| COINOTAG recommends • Exchange signup |
| 💹 Trade with pro tools |
| Fast execution, robust charts, clean risk controls. |
| 👉 Open account → |
| COINOTAG recommends • Exchange signup |
| 🚀 Smooth orders, clear control |
| Advanced order types and market depth in one view. |
| 👉 Create account → |
| COINOTAG recommends • Exchange signup |
| 📈 Clarity in volatile markets |
| Plan entries & exits, manage positions with discipline. |
| 👉 Sign up → |
| COINOTAG recommends • Exchange signup |
| ⚡ Speed, depth, reliability |
| Execute confidently when timing matters. |
| 👉 Open account → |
| COINOTAG recommends • Exchange signup |
| 🧭 A focused workflow for traders |
| Alerts, watchlists, and a repeatable process. |
| 👉 Get started → |
| COINOTAG recommends • Exchange signup |
| ✅ Data‑driven decisions |
| Focus on process—not noise. |
| 👉 Sign up → |
- FTX leveraged billions in customer funds for repurchasing Binance’s stake.
- Changpeng Zhao, Binance’s CEO, confirmed receiving $2.1 billion in the form of BUSD and FTT.
- Expert testimony at a court hearing sheds light on FTX’s controversial financial decisions.
Recent revelations in court unveil that FTX, a prominent crypto exchange, channeled billions in customer assets to repurchase its stake from industry giant, Binance.
Unraveling FTX’s Dubious Transactions
In a startling turn of events, it emerged during a recent court hearing that FTX, which has filed for bankruptcy, redirected its customer funds for a massive transaction – buying back the stake Binance held in the firm. As a confirmation of this transaction, Changpeng Zhao, the CEO of Binance, detailed in a 2022 post about receiving a staggering amount of over $2.1 billion, comprising BUSD stablecoins and FTT tokens, marking the repurchase.
The Task of Tracing the Billions
The U.S. Department of Justice (DOJ) has undertaken the colossal task of tracking the intricate flow of billions between Alameda and FTX. Assisting them in this endeavor is Peter Easton, an esteemed accounting professor at the University of Notre Dame. Easton’s findings have added more gravity to the situation. When inquired by the court, Easton unhesitatingly affirmed that FTX had indeed utilized user deposits for various purposes. Shockingly, these user funds weren’t just used for the Binance buyback but also reinvested in diverse businesses, real estate ventures, political donations, and even charitable causes.
A Glimpse into the Binance-FTX Partnership
The relationship between Binance and FTX dates back to 2019 when Binance, seeing potential in the then-emerging FTX, decided to invest an undisclosed sum in the exchange. This strategic collaboration seemed promising as FTX was already processing trades worth $500 million daily. But little did the world know, FTX would grow exponentially, handling over $50 billion at its zenith.
| COINOTAG recommends • Professional traders group |
| 💎 Join a professional trading community |
| Work with senior traders, research‑backed setups, and risk‑first frameworks. |
| 👉 Join the group → |
| COINOTAG recommends • Professional traders group |
| 📊 Transparent performance, real process |
| Spot strategies with documented months of triple‑digit runs during strong trends; futures plans use defined R:R and sizing. |
| 👉 Get access → |
| COINOTAG recommends • Professional traders group |
| 🧭 Research → Plan → Execute |
| Daily levels, watchlists, and post‑trade reviews to build consistency. |
| 👉 Join now → |
| COINOTAG recommends • Professional traders group |
| 🛡️ Risk comes first |
| Sizing methods, invalidation rules, and R‑multiples baked into every plan. |
| 👉 Start today → |
| COINOTAG recommends • Professional traders group |
| 🧠 Learn the “why” behind each trade |
| Live breakdowns, playbooks, and framework‑first education. |
| 👉 Join the group → |
| COINOTAG recommends • Professional traders group |
| 🚀 Insider • APEX • INNER CIRCLE |
| Choose the depth you need—tools, coaching, and member rooms. |
| 👉 Explore tiers → |
Conclusion
The revelations about FTX’s questionable financial decisions have sent ripples throughout the crypto industry. Using customer funds for corporate buybacks raises profound concerns about transparency and integrity in the crypto space. As details of this case continue to unravel, it underscores the pressing need for stringent regulations and oversight to ensure the protection of user funds and maintain trust in the ever-evolving world of cryptocurrency.
| COINOTAG recommends • Members‑only research |
| 📌 Curated setups, clearly explained |
| Entry, invalidation, targets, and R:R defined before execution. |
| 👉 Get access → |
| COINOTAG recommends • Members‑only research |
| 🧠 Data‑led decision making |
| Technical + flow + context synthesized into actionable plans. |
| 👉 Join now → |
| COINOTAG recommends • Members‑only research |
| 🧱 Consistency over hype |
| Repeatable rules, realistic expectations, and a calmer mindset. |
| 👉 Get access → |
| COINOTAG recommends • Members‑only research |
| 🕒 Patience is an edge |
| Wait for confirmation and manage risk with checklists. |
| 👉 Join now → |
| COINOTAG recommends • Members‑only research |
| 💼 Professional mentorship |
| Guidance from seasoned traders and structured feedback loops. |
| 👉 Get access → |
| COINOTAG recommends • Members‑only research |
| 🧮 Track • Review • Improve |
| Documented PnL tracking and post‑mortems to accelerate learning. |
| 👉 Join now → |
