{"id":15224,"date":"2022-12-07T07:58:33","date_gmt":"2022-12-07T07:58:33","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-counters-wrong-narratives-about-ftx-cz-calls-sbf-one-of-the-greatest-fraudsters-in-history-featured-bitcoin-news\/"},"modified":"2022-12-07T07:58:33","modified_gmt":"2022-12-07T07:58:33","slug":"binance-counters-wrong-narratives-about-ftx-cz-calls-sbf-one-of-the-greatest-fraudsters-in-history-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-counters-wrong-narratives-about-ftx-cz-calls-sbf-one-of-the-greatest-fraudsters-in-history-featured-bitcoin-news\/","title":{"rendered":"Binance Counters ‘Wrong Narratives’ About FTX \u2014 CZ Calls SBF ‘One of the Greatest Fraudsters in History’ \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The CEO of crypto exchange Binance, Changpeng Zhao (CZ), has countered several \u201cwrong narratives\u201d about the collapsed crypto exchange FTX and its co-founder Sam Bankman-Fried (SBF). The Binance boss calls SBF \u201ca master manipulator\u201d and \u201cone of the greatest fraudsters in history.\u201d<\/strong><\/p>\n

Binance\u2019s CEO on \u2018Wrong Narratives\u2019 About FTX and Sam Bankman-Fried<\/h2>\n

The CEO of crypto exchange Binance, Changpeng Zhao (CZ), took to Twitter Tuesday to address what he called \u201cwrong narratives\u201d that he has seen recently about the collapsed crypto exchange FTX and its co-founder Sam Bankman-Fried (SBF).<\/p>\n

The first narrative he addressed was \u201cCZ wants to be the savior of crypto,\u201d the Binance boss described. He explained:<\/p>\n

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Crypto doesn\u2019t need saving. Crypto is fine. It\u2019s the beauty of decentralization. We are just part of it. We want to help other good projects that may be in a cash crunch because of recent events. It\u2019s in our collective best interest.<\/p>\n<\/blockquote>\n

The second narrative is \u201cFTX was killed by xyz (ie, a 3rd party),\u201d CZ continued, emphasizing: \u201cNo, FTX killed themselves (and their users) because they stole billions of dollars of user funds. Period.\u201d<\/p>\n

The next narrative Zhao countered was \u201cCZ\u2019s tweet destroyed FTX,\u201d the Binance CEO said, arguing: \u201cNo healthy business can be destroyed by a tweet.\u201d On Nov. 6, days before FTX filed for bankruptcy, CZ tweeted<\/a> that Binance is dumping all FTX tokens on its books.<\/p>\n

While Zhao has denied destroying FTX with his tweet, he pointed out that an article<\/a> published by Bloomberg suggested that a tweet by Alameda Research CEO Caroline Ellison led to the collapse of FTX and caused investors to dump the FTT token. The Binance chief wrote:<\/p>\n

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Caroline\u2019s tweet 16 minutes after mine on Nov 6 \u2026 Data shows it was the real cause for people to dump FTT \u2026 She gave her floor price away\u2026<\/p>\n<\/blockquote>\n

Zhao also addressed some narratives about Bankman-Fried. One is \u201cSBF had good intentions, but just made some mistakes,\u201d Zhao noted, stressing: \u201cLying is never with good intentions.\u201d<\/p>\n

Another narrative is \u201cSBF perpetuated a narrative painting me and other people as the \u2018bad guys,’\u201d CZ added, elaborating:<\/p>\n

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It was critical in maintaining the fantasy that he was a \u2018hero.\u2019 SBF is one of the greatest fraudsters in history, he is also a master manipulator when it comes to media and key opinion leaders.<\/p>\n<\/blockquote>\n

Some people have compared the FTX meltdown and Bankman-Fried to Bernie Madoff\u2019s Ponzi scheme<\/a>. U.S. Treasury Secretary Janet Yellen said last week that the FTX collapse was \u201ca Lehman moment<\/a> within crypto.\u201d<\/p>\n

FTX filed for bankruptcy on Nov. 11 and Bankman-Fried stepped down as the CEO. An estimated one million customers and investors lost billions of dollars from the exchange collapse. The company is now being investigated for mishandling customer funds<\/a>. FTX\u2019s new CEO, John Ray, told<\/a> the bankruptcy court: \u201cNever in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.\u201d<\/p>\n

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Binance<\/a>, Binance CEO<\/a>, Binance FTX<\/a>, Binance SBF<\/a>, Changpeng Zhao<\/a>, CZ<\/a>, CZ FTX<\/a>, CZ kills FTX<\/a>, CZ SBF<\/a>, false narratives FTX<\/a>, FTX collapse<\/a>, FTX fraud<\/a>, Sam Bankman-Fried fraudster<\/a>, SBF fraudster<\/a>, wrong narratives FTX<\/a><\/div>\n<\/div>\n

What do you think about the comments by Binance CEO Changpeng Zhao? And, do you think Bankman-Fried is one of the greatest fraudsters in history? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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