Before the bankruptcy filing Sam Bankman-Fried was told by leaders of other crypto exchanges to “stop trying to undermine Stablecoins.”

Senior executives of crypto-currency exchanges are reportedly members of a Signal discussion group called “Exchange coordination“, and Binance CEO Changpeng Zhao (CZ) reportedly told SBF to stop causing “more damage“.

Binance CEO reportedly told SBF to stop talking “more damage” and “stop trying to depreciate Stablecoins

The Wall Street Journal (WSJ) reports that just before crypto exchange FTX filed for bankruptcy, a conversation took place between Changpeng Zhao and Sam Bankman-Fried on November 10, 2022, in a Signal newsgroup called “Exchange coordination“. The Signal group’s chat logs were apparently seen by the WSJ and group members such as Paolo Ardoino, CTO of Tether, and Jesse Powell, co-founder of Kraken.

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The WSJ report details that SBF has been accused of trying to destabilize stable currencies and specifically Tether (USDT). “A Tether official and the head of the world’s largest crypto-currency exchange expressed alarm that Sam Bankman-Fried was trying to destabilize stablecoin“, allege WSJ reporters Patricia Kowsmann, Alexander Osipovich and Caitlin Ostroff. However, in a statement to the WSJ, Sam Bankman-Fried denied the claims made in the article about the Signal conversation.

Kowsmann, Osipovich and Ostroff detail that Binance CEO Changpeng Zhao confronted SBF about the alleged skinning attempts. “Stop trying to debug stable parts“, is quoted as saying CZ. “And stop doing anything. Stop now, don’t cause more damage“.

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FTX co-founder Sam Bankman-Fried recently agreed to testify before the U.S. Congress and also discussed the idea of launching a new FTT token with crypto-currency developer Ran Neuner on December 9. In addition, revelations released over the weekend indicate that The Block CEO Michael McCaffrey secretly received more than $43 million from SBF’s Alameda Research. Shark Tank star Kevin O’Leary also revealed last Thursday that he received $15 million to be FTX’s spokesman.

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