CZ seems like a genius, but I'm sure he's panicking now, he doesn't benefit from killing the whole alt-coin world - which increasingly looks like happening.
I think FTX was a very big threat to Binance AND the whole crypto ecosystem. After making sure everything was or could become (practically, at any other event where FTT would crash) insolvent under the hood, CZ went on and killed FTX and actually saved a MUCH, MUCH bigger industry collapse that was impending as FTX went bigger and bigger.
Not to defend him and I also agree that Binance benefited by killing its biggest enemy while still suffering himself as industry collapsed, but if this event didn't happen today, much worse would have happened in the future affecting literally everyone much worse.
This seems hysterically optimistic. The current crash is not going to stop with FTX, it's already crashing Solana, BTC, etc. And if Binance themselves and/or Tether come tumbling down, there will be absolute carnage in the markets.
