Bitcoin Price Surges: CZ Warns Investors to Brace for Volatility
CZ’s Take on Bitcoin’s All-Time High
Amidst a notable 11% surge in Bitcoin’s price this week, Changpeng Zhao (CZ), a prominent figure in the crypto space and ex-CEO of Binance, has issued a word of caution to investors. The cryptocurrency reached a new all-time high of $77,252, prompting CZ to advise hodlers to exercise proper risk management strategies and avoid succumbing to greed. He emphasized the importance of diversification and taking measured steps in the volatile market.
CZ Reflects on FTX Collapse Anniversary
CZ also took a moment to look back on the FTX collapse that occurred in early November 2022, describing it as a distant memory. Two years ago, Binance had considered acquiring FTX, which was then the second-largest cryptocurrency exchange. However, the deal fell through due to FTX’s liquidity issues. Subsequently, FTX’s founder, Sam Bankman-Fried, faced legal troubles for alleged fraudulent activities, while CZ himself dealt with legal repercussions but was released after a brief period of incarceration.
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