The comment has ignited fierce debate online, with the community divided over whether it was a miscommunication, a sarcastic remark, or something rooted in truth.
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The wild claim emerged during a series of tense exchanges on X, where ZachXBT questioned SBF over allegations of concealing details about a $40 million transfer to Chinese authorities.
SBF’s exchange with ZachXBT has sparked debate. | Source: X
The comment followed a heated back-and-forth that began when ZachXBT challenged SBF over a 2023 BBC report alleging that the FTX founder had authorized a bribe to unfreeze $1 billion in crypto funds held by Chinese officials.
ZachXBT wrote: “Riddle me about the $40 [million] transfer to Chinese authorities you hid from the public.”
SBF’s account responded: “Chinese exchanges stole $1 [billion] and offered to give $960 [million] back. What should we have done — said ‘nah, keep the full $1 [billion]’?”
The exchange quickly escalated.
SBF and ZachXBT’s online tussle. | Source: X
ZachXBT replied: “A Bahamian exchange stole $8 [billion] and offered to give users only a % back. What should we have done — said ‘nah, pardon the founder’?”
SBF then fired off the now-viral message invoking CZ’s name.
ZachXBT shot back, referencing SBF’s long-running feud with Binance’s founder: “After three years, you somehow still dream about CZ every day.”
Adding: “You only have 22 more years to continue those delusions.”
FTX vs Binance
While SBF’s “Come on, CZ” remark may have been sarcastic, it comes amid renewed tensions between the FTX estate and Binance.
Last year, FTX sued Binance and CZ to recover assets linked to pre-collapse dealings, alleging that $1.8 billion was “fraudulently transferred” by FTX management to Binance.
Rival exchange Binance, led at the time by CZ, initially moved to acquire FTX’s overseas arm as the company faced a liquidity crisis in November 2022, but withdrew from the agreement shortly after announcing the plan.
“By this lawsuit, the Plaintiffs seek to recover, for the benefit of FTX’s creditors, at least $1.76 billion that was fraudulently transferred to Binance and its executives at the FTX creditors’ expense,” FTX administrators stated in court filings.
Community Is Skeptical
Despite the lack of tangible proof or evidence, SBF’s cryptic post has sparked widespread online speculation.
In one X post, a skeptical user noted that removing certain letters from ZachXBT’s name leaves just “CZ” writing, “He could be on to something here.”
The surreal exchange also comes at a challenging time for ZachXBT, who recently faced criticism from parts of the crypto community for partnering with BNB Chain.
On Wednesday, Nov. 5, BNB Chain announced that the investigator would collaborate with its community “to help keep the ecosystem cleaner, fairer, and more transparent.”
Many users expressed skepticism toward ZachXBT’s intentions.
One X user wrote: “…you’re just being a hypocrite. If you claim to fight scams, you need a code and a line you won’t cross.”
“Everyone knows what Binance/CZ are, yet you never wrote a word about it despite having receipts,” they added.
The investigator, who remains pseudonymous, has not directly addressed SBF’s insinuation.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
