Being sued by the SEC is a sign of doing the right thing? Zhao Changpeng: FTX is not sued; Twitter founder watches from the sidelines

Founder of the American exchange Gemini, Cameron Winklevoss, has sued the exchanges Binance and Coinbase at the U.S. Securities and Exchange Commission (SEC) for two consecutive days, stating, "Being sued by the SEC in the past meant you may have made a mistake, but now it may mean you are doing the right thing."

CZ Helpless: SEC Did Not Sue FTX

Zhao Changpeng, the founder of Binance, expressed helplessness, saying, "But they did not sue FTX."

However, did the SEC really not sue FTX? It can be said they did, but it can also be said they did not.

FTX did not face any SEC lawsuits until after its bankruptcy. It was only after FTX went bankrupt that the SEC filed a lawsuit against FTX founder SBF and several senior executives, along with digital asset securities charges. Key points summarizing the SEC's civil charges against FTX executives

However, it was only after the FTX incident that the SEC began taking significant enforcement actions against Coinbase, Gemini, and Binance.

Twitter Founder Watching Drama Unfold

Twitter founder Jack Dorsey has always been a Bitcoin idealist. Although people have asked him in the past if he holds ETH or other favored cryptocurrencies, he has always believed that currencies other than Bitcoin are just distractions.

After the SEC sued several exchanges and currencies for being securities, he also stated that ETH is a security, believing that Coinbase should focus on Bitcoin.

In response to Cameron Winklevoss's complaints, he simply used a popcorn emoji to convey the emotion of watching the drama unfold.

More of Jack Dorsey's related comments: I've been telling you to focus on Bitcoin, ETH is a security.