Binance vs. FTX: CZ Calls Out 'Bad Players' for Crypto Exchange Jitters

Jitters in crypto trading relate to a trade event in which an investor's buy or sell order is blocked and moves down the list, allowing new trade orders to pass.

CEO of crypto exchange Binance, Changpeng 'CZ' Zhao, has raised concerns with traders after learning about the infamous phenomenon of trade jitters on other crypto exchanges.

The jitters in crypto trading relate to a trade event in which an investor's buy or sell order is blocked and moves down the list, allowing new trade orders to proceed.

I just learned a new word, jitters. On 1 particular exchange, sometimes your orders will get stuck for a bit, and a few more orders will come in ahead of you. Apparently it happens often enough on this exchange that traders have coined a term for it, jitters. (Front Operation)

While CZ's nervousness concerns didn't explicitly target a particular exchange, the crypto community on Twitter assumed it was a dig at FTX, a crypto exchange run by Sam Bankman-Fried. Responding to community backlash that suggested "frightening" was a well-known and accepted situation, CZ added:

"You all knew and didn't say anything. We have to fight bad players."

CZ further contacted VIP traders on Binance, who reportedly confirmed to be aware of the illicit trading activities. The indirect allegation against FTX fits perfectly with the timeline when the Federal Deposit Insurance Corporation (FDIC) issued a cease and desist order to the exchange and four other crypto companies.

According to the FDIC, FTX US, SmartAssets, FDICCrypto, Cryptonews and Cryptosec misled investors by claiming that their products were FDIC insured. Reacting to the order, FTX US President Brett Harrison