According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablecoins.”

Binance CEO Allegedly Told SBF to Stop Causing ‘More Damage’ and to ‘Stop Trying to Depeg Stablecoins’

The Wall Street Journal (WSJ) reports that just before the crypto exchange FTX filed for bankruptcy, there was a conversation between CZ and SBF on Nov. 10, 2022, in a Signal chat group called “Exchange coordination.” The Signal group’s chat logs were apparently seen by the WSJ and high up crypto execs like Tether’s CTO Paolo Ardoino and Kraken co-founder Jesse Powell are purportedly members of the group.

The WSJ report details that SBF was accused of trying to destabalize stablecoins and more specifically tether (USDT). “A Tether official and the head of the world’s largest crypto exchange grew alarmed that Sam Bankman-Fried was trying to destabilize the stablecoin,” the WSJ reporters Patricia Kowsmann, Alexander Osipovich and Caitlin Ostroff allege. However, in a statement made to the WSJ, SBF denied the claims made in the report about the Signal chat conversation.

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