FTX’s SBF is a Master Manipulator, Says Changpeng Zhao
In a lengthy Twitter post on Tuesday, Binance CEO Changpeng Zhao called out the founder of failed crypto exchange FTX. Zhao criticized Sam Bankman-Fried in a tweet describing him as “one of the greatest fraudsters in history.”
CZ’s mail was originally aimed at addressing the false statements that the crypto billionaire claimed to have come across as of late. The first thing Zhao talked about was the idea that he wanted to be the savior of cryptocurrency. This narrative may have gained weight due to Binance’s recent efforts to help platforms struggling with liquidity issues following the FTX crash.
According to the post, CZ does not believe that the crypto industry is in dire straits. He explained that Binance is working to support problematic projects for the good of the broader crypto space:
“Crypto is fine. It is the beauty of decentralization. We’re just part of it.”
Zhao Says FTX Caused Its Downfall
Notably, Binance tried to buy FTX at the beginning of collapse of SBF’s empire in hopes of saving the exchange. However, Zhao backed out of the deal, stating that FTX was beyond saving. The Binance founder also touched on the idea that the FTX crash was due to third-party influence, by tweeting, “A list of wrong narratives I have seen recently.”
In fact, some members of the crypto community believe that Zhao’s tweet before the spiral caused FTX to crash. As such, he clarified that one tweet couldn’t have brought down a healthy platform. He also cited a source noting that a tweet from Caroline Ellison, Alameda’s executive director of research, shared 16 minutes after its post could have led to the crash.
“FTX committed suicide, (and its users) because they stole billions of dollars of user funds. Period,” CZ said.
Binance Does Not Pay Much Attention to Rivals
CZ also stated that there were never any good intentions behind Bankman-Fried’s lies. In his thread, he pointed out an example of the aforementioned lies. According to CZ, Bankman-Fried has tried to frame him along with other key crypto players as enemies. SBF’s supposed goal was to present itself as the hero.
Zhao described the 30-year-old as a master manipulator in the face of media and key opinion leaders. Going back to one of his original clarifications, CZ closed the thread explaining Binance’s perspective on things. The exchange reportedly does not police competitors. CZ believes it is a waste of resources when the crypto industry had only reached a small percentage of the world’s population.
“We want multiple exchanges, multiple Blockchains, multiple wallets, etc. to coexist in the ecosystem. So let’s keep building.”
By Audy Castaneda