Binance CEO Changpeng Zhaoresponded against his and his company’s link to the FTX collapse. The CEO denied some of the allegations and explained the possible causes of the collapse. shared.
The real culprit of the collapse, according to CZ Sam Bankman-FriedIt’s none other than . CZ reiterated this emphasis and described SBF as one of the biggest fraudsters of all time.
Why FTX Exchange Crashed?
Changpeng Zhao has denied some allegations that have been circulating in the cryptocurrency industry for a while. According to the CEO, the cryptocurrency industry is still in good shape, so it doesn’t need to get rid of. CZ also underlined that he does not see himself as the ‘savior of crypto’.
“All these are the benefits of centralization. We are just part of this system. We have no other purpose than to help projects that are short of cash due to recent events. This is the best option for us.”
FTX CZ, who also shared his comment on the collapse, claimed that he had no connection with the collapse.
“FTX literally killed itself and its users. Because they stole billions of dollars of user funds. That’s what it’s all about.”
Some people in the community continue to believe that SBF has good intentions. Indeed, according to Changpeng Zhao, these assumptions are utter nonsense. Because lying is never well-intentioned.”
The Binance CEO went even further, describing the FTX founder as “a masterful manipulator” and “one of the biggest scammers in history.” CZ concluded that FTX enticed the media and opinion leaders to portray itself as a “hero”.
Later CZ. cryptocurrency drew attention to more important problems, such as the low level of adoption. According to CZ, Binance does not and should not focus too much on its competitors.
“There are multiple exchanges, multiple blockchains, multiple wallets, etc. in the ecosystem. We want them to coexist.”
SBF Should Start Answering Questions
Sam Bankman-Fried made a series of mysterious tweets last month, shortly before his company filed for bankruptcy protection. In one of his messages, he mentioned something mysterious that might have damaged the operations of his exchange. The tweet triggered confusion in people’s minds and the ‘mystery’ mentioned may be Binance.
As we have reported as Koinfinans.com, many people defined SBF as a ‘psychopath’ because of these posts. As a matter of fact, CZ denied the psychopath claims and indirectly commented that it was a conscious act.
In the same period, some investors accused Binance of wanting to destroy small exchanges. CZ denied these allegations and stated that they wanted to support them instead of destroying them.
According to CZ, the SBF should stop posting such mysterious and controversial tweets and give clear and accurate interpretations of questions.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.