Changpeng Zhao (CZ), the CEO of Binance, has labeled Sam Bankman-Fried (SBF) as “one of the greatest fraudsters in history” following the collapse of the latter’s cryptocurrency exchange, FTX.
FTX collapsed in early November after facing a liquidity crisis connected to its token, FTT.
CZ Calls SBF a Fraudster
Addressing narratives being built around him over the collapse of the FTX, the Binance CEO, via a tweet thread on Tuesday, stated that SBF is not only a fraudster but a master manipulator when it comes to the media and key opinion leaders.
CZ stated that SBF perpetuated a story painting him and other people as the “bad guys” while presenting himself as a “hero” in the FTX debacle.
The Binance CEO went on to disagree with claims that he destroyed FTX with his November 6 tweet, which stated that Binance would dump all of its FTT tokens following reports of FTX sister company Alameda Research’s balance sheet containing most of the token.
CZ noted that a healthy business is not supposed to be destroyed by a tweet.
“However, there was a tweet that may have, Caroline’s tweet 16 minutes after mine on Nov 6. Data shows it was the real cause for people to dump FTT,” he added, referring to a tweet by Caroline Ellison, the former CEO of Alameda.
In an attempt to limit Binance’s FTT liquidation impact on the market, Ellison reached out to Binance at the time, offering to buy the tokens for $22.
Binance CZ added that in an attempt to reach out to the company, she gave her floor price away.
CZ: Crypto Doesn’t Need Saving
The CEO also addressed the narrative that he wants to be the savior of crypto. He noted that the industry is fine and does not need saving.
“It’s the beauty of decentralization. We are just part of it. We want to help other good projects that may be in a cash crunch because of recent events. It’s in our collective best interest,” CZ said.
The Binance founder went further to dispute claims that FTX was killed by a third party. According to CZ, the company killed itself and its users because it stole users’ funds worth billions of dollars.
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