CEO accused of instigating FTX collapse details Sam Bankman-Fried ‘lies’ and ‘straw that broke camels back’
Binance CEO Changpeng 'CZ' Zhao discusses the latest fallout from the FTX collapse and how that is expected to impact his company’s operation on 'Varney & Co.'
The CEO of Binance, the world’s largest online exchange for cryptocurrency, took aim at FTX’s founder Sam Bankman-Fried after being accused of initiating the company's unprecedented downfall. Binance's Changpeng Zhao commented on the accusation by spotlighting Bankman-Fried's decision to deliberately "lie" to his users, investors, employees and regulators around the world.." in response to FOX Business' Susan Li asking whether Bankman-Fried committed outright fraud, being blamed for FTX's downfall and claiming the former CEO was a psychopath.
"But I don't think we caused it [FTX's collapse]," he added. "We may be the last straw that broke the camel's back, but I can tweet about a different company, and they will be fine if the company itself is fine." Changpeng Zhao, CEO of Binance, told FOX Business that he was not the reason for FTX's downfall but may be the"straw that broke the camel's back."
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