{"id":15541,"date":"2022-12-16T12:38:19","date_gmt":"2022-12-16T12:38:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/kevin-oleary-says-binance-caused-the-ftx-implosion\/"},"modified":"2022-12-16T12:38:19","modified_gmt":"2022-12-16T12:38:19","slug":"kevin-oleary-says-binance-caused-the-ftx-implosion","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/kevin-oleary-says-binance-caused-the-ftx-implosion\/","title":{"rendered":"Kevin O\u2019Leary says Binance caused the FTX implosion"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1671188072811-aa9cc892-e2a4-4eff-8169-95db7aab7565-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1671188072811-aa9cc892-e2a4-4eff-8169-95db7aab7565-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1671188072811-aa9cc892-e2a4-4eff-8169-95db7aab7565-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1671188072811-aa9cc892-e2a4-4eff-8169-95db7aab7565-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li>Investor Kevin O\u2019Leary is a hired FTX spokesperson in the ongoing FTX hearing.<\/li>\n<li>O\u2019Leary has asserted that Binance was behind the collapse of FTX.<\/li>\n<li>Kevin however told the committee that that was an opinion and didn\u2019t have records.<\/li>\n<\/ul>\n<p>Kevin O\u2019Leary, a hired FTX spokesperson, on Wednesday told the US Senate Committee <a href=\"https:\/\/www.youtube.com\/watch?v=XtHm3a6Bqz4\">hearing<\/a> on the collapse of FTX that <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance <\/a>was the cause of the FTX problems.<\/p>\n<p>Kevin told the committee that when he inquired about Sam Bankman-Fried\u2019s usage of customer funds, he was told that more than $3 billion were used in repurchasing the <a href=\"https:\/\/coinjournal.net\/news\/is-ftx-insolvent-why-is-binance-selling-ftt-deep-dive\/\">FTX shares that Binance held<\/a>. When pressed by Senator Patrick Toomey on why FTX failed, Kevin said he only had an opinion but didn\u2019t have the records.<\/p>\n<h2>Binance move to sell FTX tokens hurt FTX\u2019s balance sheet<\/h2>\n<p>Kevin claimed that Binance CEO Changpeng Zhao\u2019s move to sell the FTX tokens that it held was made to hurt FTX\u2019s balance sheet. In Kevin\u2019s words:<\/p>\n<p><em>\u201cIn my view, my personal opinion, these two [\u2026] in an unregulated market [\u2026] with this incredible business in terms of growth were at war with each other, and one put the other out of business, intentionally.\u201d<\/em><\/p>\n<p>Kevin further added:<\/p>\n<p><em>\u201cMaybe there is nothing wrong with that, maybe there is nothing wrong with love and war, but Binance is a massive unregulated global monopoly now, and they put FTX out of business.\u201d<\/em><\/p>\n<p>Last week on Friday, Changpeng Zhao and Sam Bankman-Fried engaged in a <a href=\"https:\/\/thecoinrise.com\/ftx-founder-to-binance-ceo-you-won-stop-lying\/\">Twitter feud<\/a> defending the legality of their business empires and former remarks by Kevin O\u2019Leary in a previous <a href=\"https:\/\/www.youtube.com\/watch?v=pIXq1pfvG0g&amp;feature=youtu.be\">interview with CNBC<\/a> were brought up in the argument.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/ftx-collapse-hearing-kevin-oleary-says-binance-caused-the-ftx-implosion\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Investor Kevin O\u2019Leary is a hired FTX spokesperson in the ongoing FTX hearing. O\u2019Leary has asserted that Binance was behind the collapse of FTX. Kevin however told the committee that that was an opinion and didn\u2019t have records. Kevin O\u2019Leary, a hired FTX [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":15542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/15541"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=15541"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/15541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/15542"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=15541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=15541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=15541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}