On October 31st, SBF admitted during a court hearing on Monday that he "was likely the person who ultimately pulled the trigger" in the matter of repurchasing FTX shares held by Binance. It is reported that the repurchase of FTX shares from Binance ultimately led to the collapse of FTX. FTX had previously provided Binance with a large amount of its native token FTT. In November 2022, Binance CEO CZ threatened to sell these shares, triggering a run on FTX.
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