CZ is not an idiot, he understands what fraud was on the FTX exchange, and buying this exchange could end up with very bad consequences for Binance.FTX supported the Democrats and the Republicans won. It is very interesting how the SEC investigation will end.
Lets exclude that politics side but FRX is really on a big danger here, most probably cases against them will soon be filed if they cant survive on this, this is a wise move for Binance not to bailout FTX or else they will be part of the problem of FTX. USDT freezes the holdings of FTX, that could be a good fund to compensate the losses I just dont know how long they can take it, but it looks like they are already getting there.