This whole thing goes way back to 2019 before Binance incubated FTX. In 2019, CZ tweeted that some small derivatives exchange was attacking futures markets on Binance.
He then invested in that small derivatives exchange, built them up, cashed out, weirdly took payment in their own tokens last year instead of taking entire settlement in tether or bitcoin, Alameda balance sheet rumours from substack gets picked up by coindesk, CZ goes public about dumping their tokens on the market, bank run, CZ swoops in and serves it back cold.
Played SBF like a f'n fiddle! GG