Changpeng said that he didn't master plan the collapse of FTX.
FTX going down is not good for anyone in the industry, and employees should not view it as a win for us, according to an email sent to employees.
On Tuesday, the company announced that it had reached a non-binding deal with FTX to buy the exchange's non-U.S. businesses for an undisclosed amount. Private investors valued FTX at $32 billion.
The native token for FTX has fallen from around $25 a week ago to $3.50. The decline was caused when he announced that the company was selling its holdings.
According to the memo, employees should not buy or sell FTT.
The letter said to not trade the token. You have a bag if you have one. Don't purchase or sell.
He expected the scrutiny of exchanges to increase because of the turmoil. FTX didn't reply to CNBC's requests for comment.
FTX is the biggest domino to fall, and its descent came with shocking speed.
The market cap of token is down to $840 billion, the lowest it has been in years.
There will be a lot of transparency, proof of reserves and insurance funds.
The investors are still rattled by the FTX.
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