My understanding of the situation:
FTX lobbied for a DEFI kyc requirement > looks like those crypto players in power in return want to shut them down and seem successful so far. FTX/Almeda inflated their balance sheet with their own tokens, going to be interesting weeks.
Yes this is the reason. Nobody in the crypto space was happy about what SBF did.
However CZ looks like he is looking for blood. Instead of just taking the $22 offer for the FTT, he promised to TWAP it over a 6 month period. However if you look at the FTTBNB chart, there is massive amount of dumping since in the last few hours. Seems like he wants to break the peg and cause pain.
There is speculation already that they are selling their holdings of SOL just to keep the $22 peg safe.
Right now there is even a 10 cent premium between Binance and FTX for FTT-Token.
Looks like it might get ugly. Reminds me of CSW vs Ver from 4 years ago. And poof the $6000 bitcoin support broke.