The head of Binance called Sam Bankman-Fried one of the greatest crooks
Changpeng Zhao commented on recent remarks and rumors about himself, the head of FTX and the collapse of that exchange
Binance CEO Changpeng Zhao (CZ) published a series of posts in which he commented on what he believes to be incorrect narratives related to the situation around Sam Bankman-Fried (SBF) and the collapse of his crypto exchange FTX:
"CZ wants to be the savior of crypto."
According to Zhao, cryptocurrency doesn't need saving: it's fine, which is the beauty of decentralization. He said he just wants to help other good projects that are facing a shortage of funds because of recent events, and it is in the general interest of the industry.
"FTX was killed by xyz (i.e. a third party)."
FTX destroyed itself and its customers because it stole billions of dollars in user funds, the head of Binance said.
"SBF had good intentions, but it made some mistakes."
Commenting on the statement, Zhao noted that lies never come with good intentions.
"CZ's tweet destroyed FTX."
No healthy business can be destroyed by a tweet, Zhao said. However, he pointed to an exception - a post by Carolyn Ellison, who posted a buyback offer for FTT tokens at $22 on Nov. 6, 16 minutes after Zhao's post about the sale of FTT tokens by the Binance exchange. The data shows that this was the real reason people started selling FTT and collapsed it, Zhao wrote.
"SBF perpetuated a narrative that painted me and others as the 'bad guys.' It's important for Balo to maintain the fantasy that he was a 'hero.' SBF is one of the greatest crooks in history, and he is also a master manipulator when it comes to the media and key opinion leaders," said the Binance head.
"SBF vs. CZ: an epic confrontation."
According to Zhao, he does not focus on competitors because it is a waste of time and resources.
Finally, the head of the largest cryptocurrency exchange urged everyone to just get back to work.
Meanwhile, Binance announced back in mid-November the creation of a fund to help cryptoprojects affected by the collapse of FTX, and urged other market participants to join. A week and a half ago, the platform allocated another $1 billion to rebuild the industry.