Famous Canadian businessman and investor Kevin O’Leary blamed Binance for the collapse of cryptocurrency exchange FTX.
Kevin O’Leary spoke at a hearing before the US Senate Banking Committee on the FTX crash on Dec. Binance claimed to have been triggered by O’Leary was also in the days before FTX filed for bankruptcy. Sam Bankman-Fried He gave detailed information about his meetings with
In return for his service to O’Leary as an FTX spokesperson, approximately 15 million dollars had been paid. During the FTX crash, approx. 10 million dollar assets The investor holding the stock market reported that he lost all of these assets.
O’Leary, Senator Patrick Toomey when asked why FTX failed “I have an idea but I don’t have the records” he replied. The famous investor then made statements about the cold war between Binance and FTX.
My personal view is that these two exchanges were at war with each other for growth in an unregulated market, and one deliberately put the other out of business. Now, maybe there’s nothing wrong with that, maybe there’s nothing wrong with love and war, but Binance is a huge unregulated global monopoly right now, and they’re the ones who are kicking out FTX.
to his speech regulator Continuing with statements in favor of the institutions, O’Leary said, stray cryptocurrency market He expressed his hope that after these events, it will be regulated as soon as possible. The famous investor stated that other countries, especially the European Union (EU), acted more decisively and quickly in this regard. That the US is lagging behind on crypto regulation underlined.
Hopefully, these events, which have had a huge impact on the public, will refocus the implementation of local regulations, which has been stalled for years. Other jurisdictions have already implemented such policies and they now attract both investment capital and highly skilled talent. In the US we are lagging behind and losing our leadership position.
Reply From Binance CEO
On the other hand, after O’Leary’s speech in the US Senate twitter via Binance CEO To Changpeng Zhao (CZ) He was asked what he thought about the explanations. CZ sarcastically said, “I don’t think he is that smart” he replied.