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How Binance Melted Down in Less Than a Year - WSJ What Went WrongInside the Frantic Texts Exchanged by Crypto Executives as FTX Collapsed. The day before the embattled cryptocurrency exchange FTX filed for bankruptcy, Changpeng Zhao, the chief executive of the rival exchange Binance, sent an. Inside the frantic texts exchanged by crypto executives as FTX collapses A day before beleaguered cryptocurrency exchange FTX filed for.