SBF lashes on CZ regarding the CEO’s remarks about him

SBF lashes on CZ regarding the CEO’s remarks about him

Bankman-Fried said on Twitter after CZ referred to him as a “fraudster” in an earlier post, “You won. There’s no need to lie.”

The specifics of a failed purchase last month were disputed by Sam Bankman-Fried, the former head of FTX, and Changpeng ‘CZ’ Zhao, the CEO of Binance. The two were engaged in a verbal spat on social media over a bungled acquisition last month.

SBF’s remarks lead back to when Binance tried to buy FTX after Bankman-Fried’s exchange stopped accepting withdrawals in November. FTX agreed to sell itself to Binance after reports exposed an uncomfortably close link between FTX and sibling trading company, Alameda Research. However, Binance backed out of the transaction one day later.

After Binance withdrew from the agreement, Bankman-Fried allegedly went “unhinged” and started a string of insulting rants, according to CZ. However, according to SBF, none of that was necessary because, according to him, CZ had won.

After Binance decided to back out of the deal, FTX filed for bankruptcy, losing billions of dollars in customer funds, and Bankman-Fried resigned in what is regarded as a Lehman Brothers moment for the cryptocurrency sector.

Initial CZ’s remarks

Changpeng Zhao (CZ), the CEO of the cryptocurrency exchange Binance, has refuted various “false narratives” regarding the defunct cryptocurrency exchange FTX and its co-founder SBF. The CEO of Binance recently referred to SBF as one of history’s biggest scammers and a brilliant manipulator.

Tuesday, Changpeng Zhao (CZ), the CEO of cryptocurrency exchange Binance, took to Twitter to clarify what he called “false narratives” he had just come across regarding the defunct cryptocurrency exchange FTX and its co-founder Sam Bankman-Fried.

The chief executive of Binance stated that the first story he tackled was “CZ wants to be the savior of crypto.” According to him, however, Bitcoin (BTC) does not require saving. Later CZ added that they wish to support other deserving initiatives that could be facing financial difficulties due to recent events.

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Brenda Mary

Brenda Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. Brenda’s passion brings her back to her elementary school years as a poet. She enjoys discussing blockchain technology and is committed to producing original content. Brenda also covers other rapidly developing markets and economic and cryptocurrency studies.