I dont know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.
I think there is no winner , all are losers. FTX collapsed and filed bankruptcy and Binance also got hurt barbecue investors are losing confidence in crypto & withdrawing their funds from central exchanges which is bad for the entire industry. Though damage given by FTX is temporarily but market may take months to recover.