Thank you for explaining your reasoning. I’m not knowledgeable about regulators and many regulations. It does bring into question what CZ’s intent was.

Alternatively, if FTX was shut down by regulators and people couldn’t get their funds out, don’t you think that would have tanked the entire market? The contagion still would have happened.

Remember that Binance owned less than 10% of the total supply of FTT. FTX withdrawals were already happening after the questionable reserves article. My thoughts are that the market would have puked anyways with the discovery of FTX’s fraud and insolvency.

I look at it more like CZ was being a vigilante in a city with no police.