- Changpeng Zhao calls Sam Bankman-Fried one of the greatest fraudsters.
- He claims Bankman-Fried created a negative narrative to paint him as the bad guy.
- Bloomberg claimed a $5 billion market liquidity evaporated in FTX’s after a tweet from Caroline Ellison.
Changpeng Zhao (CZ), the CEO of Binance, has labeled Sam Bankman-Fried (SBF), the former CEO of the bankrupt FTX exchange, as one of the greatest fraudsters in history, adding that Bankman-Fried is a master manipulator of the media.
CEO Zhao tagged Bankman-Fried as a con artist today while clarifying widespread erroneous notions in the crypto community. He noted that Bankman-Fried had created a narrative, painting him as the bad guy to be held responsible for FTX’s downfall in trying to maintain a hero status. Zhao continued:
SBF perpetuated a narrative painting other people and me as the ‘bad guys.’ It was critical in maintaining the fantasy that he was a ‘hero.’ SBF is one of the greatest fraudsters in history, a master manipulator regarding media and key opinion leaders.
Furthermore, Zhao responded to the notion that his tweet regarding FTT token liquidation had killed FTX by saying, “A tweet cannot destroy a healthy business.” On the other hand, a report on Bloomberg asserted that FTX’s point of no return started after Alameda CEO Caroline Ellison replied to CZ’s tweet.
Bloomberg claimed a $5 billion market liquidity evaporated in FTX’s asset a few minutes after Ellison declared the intention to buy all of Binance’s FTT token at $22. The exchange CEO added that giving away her floor price was the tipping point.
Regarding the claims that CZ wants to be the savior of crypto, the Binance CEO clarified that crypto needs no savior, which is part of the beauty of decentralization.
Zhao added that his exchange only seeks to help good projects that may face financial difficulties due to FTX’s mismanagement of customer funds.
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