The LUNA meltdown has sparked several conspiracy theories within the crypto community. This includes speculations that the CEO of FTX, Sam Bankman-fried, might be responsible for both the LUNA crash and the 3AC collapse.
On November 10th, 2022, Mario Nawfal, the founder and CEO of IBCgroup.io and co-founder of NFTtech, tweeted about the CZ and SBF conspiracy then had the tweet deleted.
Did you see the viral tweet about the CZ & SBF conspiracy?
Did you see that I deleted it?
There's a darker story you don't know:
1) During my space,a notable & respected person came on stage & shared a story re Sam (FTX) causing the Luna crash & taking down 3AC. CZ knew this👇
— Mario Nawfal (@MarioNawfal) November 11, 2022
it seems there is a darker story unfolding behind the scenes. One deeper than what has happened over the last few days. Apparently, it all started during the last space Mario hosted, called the round table.
A notable figure in the Web3 space, came out to share a story suggesting that SBF was behind both the LUNA crash and the 3AC takedown. Added to that, he also moved users’ funds from FTX to support Alameda post-3AC collapse. And CZ was aware of all this.
Apparently, CZ then approached SBF about the matter, warning him on multiple occasions about his reckless actions. But Sam ignored him. And with the situation getting worse, CZ decided to make the issue public, which led to this tweet.
Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.
— CZ 🔶 Binance (@cz_binance) November 6, 2022
If the speculations are correct, this brings a lot of things into perspective. It was initially believed that CZ’s comment about not supporting those lobbying against other industry players behind their backs, was a CZ against SBF beef, but it might have been SBF lobbying against Do Kwon, Su Zhu, and Kyle Davies.
That’s also why he pointed to LUNA as a learning point. Yet when the information initially came out through Mario Nwawfal and the notable personality, there was a major industry backlash. According to Mario, his source received significant threats and pressure, and he was harassed.
This brings to question the transparency of the industry. If the future and maturity of the decentralized industry are hinged on the closed-curtain deals of a select few, how is that decentralization? At this rate, how can the crypto industry mature?
At this point, there’s little craziness that can surprise us.