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FTX's downfall has nothing to do with me | Binance's Zhao Changpeng's advice article, reasons for not acquiring ; Ho Yi: It is being counterattacked by political forces

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Binance founder Zhao Changpeng (CZ), shortly after FTX filed for bankruptcy reorganization, issued a statement that made it difficult for people not to associate his words with FTX, warning everyone to stay away from cryptocurrency companies with high-risk features. Today, CZ mentioned the reasons for not acquiring, and co-founder He Yi also stated that this is a realistic decision, further exposing the key to FTX's downfall.

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Binance founder Changpeng Zhao, known as CZ, recently issued a statement that many find hard not to associate with FTX shortly after its bankruptcy filing, advising everyone to stay away from cryptocurrency companies with high-risk characteristics. Today, CZ mentioned the reasons for not acquiring FTX, and co-founder He Yi also stated that this was a practical decision, further exposing the key factors behind FTX's downfall.

"Aside from FTX, one should avoid businesses, exchanges, or projects with the following characteristics:
- Not profitable
- Relying on selling their tokens to survive
- Offering high returns by locking your tokens
- Having a large total supply but only a small circulating supply
- Involved in lending
Stay SAFU"

Due to the FTX incident, Zhao Changpeng, as a major player in the saga, has also faced blame from many communities, believing that he should not have pushed FTX to the brink, causing market fluctuations and many to lose their life savings.

Perhaps due to much criticism, Binance was also blamed for not acquiring FTX, leading to the tragedy.

CZ stated: "This is truly a tragedy... and it will be Crypto's fault, not just one person's fault." He also stated during an earlier meeting in Indonesia: "In many ways, the deal didn't make sense. There were too many financial holes, high user overlap, and technical aspects we all have."

Co-founder He Yi also revealed that they were the last buyer to receive a call, and choosing not to acquire was simply a business decision. She mentioned that FTX's downfall was not solely due to Binance; FTX relied on political resources in its early days, which also backfired.