CZ on Bybit Hack: Security Risks Trump Trading Continuity

CZ, the co-founder of Binance, recently discussed his decision to recommend pausing withdrawals after the Bybit hack in an interview. He emphasized that security risks should take priority over trading continuity, even if users face inconvenience.

Bybit did not pause withdrawals and saw no further issues, which CZ attributes to effective risk assessment. He cited Binance's response to its own 2019 hack as an example of prioritizing security.

CZ also addressed claims that his 2022 tweet about selling Binance's FTT holdings killed FTX, saying it failed due to a lack of liquidity after misusing customer funds.