In a new podcast, Changpeng Zhao tells the coauthor of Billion Dollar Whale about his tumultuous relationship with rival cryptofinance founder Sam Bankman-Fried—and his key contribution to the fall of FTX.
CZ, meanwhile, was facing negative stories in the press about the Justice Department probe into Binace. I’ve worked for years as an investigative reporter, and coauthored the bookabout the 1Malaysia Development Berhad scandal, and CZ wanted to know how to deal with the media.
At the start of his career in crypto, Bankman-Fried, famous for his baggy cargo shorts and untamed shock of hair, wanted to get to know CZ, a bespectacled, wiry Chinese Canadian 15 years his senior. Bankman-Fried, meanwhile, took a job at Jane Street, a quantitative trading firm, after graduating from MIT. Many employees at Jane Street were adherents of “effective altruism,” a philosophy that encourages taking high-paying jobs and giving much of it away to charity. He’d made a good salary at Jane Street, and has said heThe fortunes being made in crypto, especially by CZ, were an inspiration.
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