CZ reveals the inside story of Binance's investment in FTX: Binance withdrew in 2021 after problems arose, and there are still lawsuits involving FTX.

In a recent interview shared on the X platform, CZ recalled his investment experience with SBF. He stated that he first met SBF at a conference in Singapore in 2019. At that time, FTX proposed forming a joint venture, which was initially rejected. A subsequent proposal led to Binance's investment in acquiring a 20% stake in FTX. Some problems arose during this process, and Binance withdrew from the investment in July 2021. Related litigation is still ongoing, and he is unclear about FTX's bankruptcy proceedings and compensation situation. CZ also revealed that applying for a US presidential pardon requires a lawyer to draft a petition stating the reasons, such as whether there was excessive prosecution and whether the person is of good character. The final decision rests entirely with the US president, and there is no fixed or standardized procedure. Obtaining a pardon is crucial for Binance's compliant entry into the US market. He also believes that Trump's own legal issues may contribute to the success of the pardon application.