Summary:
Changpeng Zhao – CEO of the world’s leading crypto exchange Binance – advised Sam Bankman-Fried to refrain from dropping misleading messages on Twitter and instead focus on his colossal problems with FTX.
In one of his announcements, SBF referred to a mysterious “sparring partner” who could have played a role in the exchange’s collapse, and some estimated this might be Zhao. The latter said only a “psychopath” could come up with such a tweet, claiming the industry is not a “boxing match” and Binance has never viewed any of its competitors this way.
‘Put on a Suit and Start Answering Questions’
The recent meltdown of the crypto platform FTX caused huge investment losses and turmoil in the sector. Logically, most people blamed the former CEO – Sam Bankman-Fried – and
Changpeng Zhao – CEO of the world’s leading crypto exchange Binance – advised Sam Bankman-Fried to refrain from dropping misleading messages on Twitter and instead focus on his colossal problems with FTX.
In one of his announcements, SBF referred to a mysterious “sparring partner” who could have played a role in the exchange’s collapse, and some estimated this might be Zhao. The latter said only a “psychopath” could come up with such a tweet, claiming the industry is not a “boxing match” and Binance has never viewed any of its competitors this way.
‘Put on a Suit and Start Answering Questions’
The recent meltdown of the crypto platform FTX caused huge investment losses and turmoil in the sector. Logically, most people blamed the former CEO – Sam Bankman-Fried – and insisted on an explanation regarding the catastrophe.
SBF released a series of cryptic tweets that did not provide enough clarification on the event. In one of his most recent messages, he spoke about a “particular sparring partner” that had perhaps damaged FTX’s operations. Being the largest player in the field and its decision to dump its FTT tokens ahead of the collapse, some presumed this mysterious entity could be Binance or its top executive.
20) At some point I might have more to say about a particular sparring partner, so to speak.
But you know, glass houses. So for now, all I’ll say is:
In a recent interview, Zhao rejected those rumors describing SBF as a “psychopath” for writing that tweet. He also said Binance does not aim to eliminate smaller platforms but assist them during the ongoing adverse reality.
“He never told me I was his sparring partner. We never view other exchanges as sparring partners, it’s not a boxing match,” CZ added.
Changpeng Zhao, Source: Forex
He also argued that SBF should stop with his confusing tweets and concentrate on fixing the problems left by his entity’s crash:
“He should be working on other things, he should not be writing tweets. In one of the messages I sent him in a group, I said: ‘Honest advise, Sam, stop doing whatever you are doing, don’t do anything more, put on a suit, go to DC and start answering questions.'”
Response to Nouriel Roubini
The renowned professor of economics – Nouriel Roubini – recently blasted the crypto sector and opined Changpeng Zhao is part of the “seven Cs” that encompass the space, the other six being “concealed, corrupt, crooks, criminals, con men, and carnival barkers.”
Binance’s boss said he does not care about that criticism, maintaining that people with negative energy “doesn’t make it far in life.”
He added that his company cooperates with top global regulators and its operations are entirely legal. As such, there is no doubt that Binance is part of the “good players” in the world of crypto, the Chinese concluded.
