FTX’s SBF is a Master Manipulator, Says Changpeng Zhao

In a lengthy Twitter post on Tuesday, Binance CEO Changpeng Zhao called out the founder of failed crypto exchange FTX. Zhao slammed Sam Bankman-Fried in a tweet describing him as “one of the greatest fraudsters in history.”

CZ Corrects Untrue Assumptions, Says Crypto is Fine

CZ’s post originally aimed to address false statements the crypto billionaire claimed he had come across in recent times. The first thing Zhao spoke about was the idea that he wanted to be the savior of crypto. This narrative may have gained weight due to Binance’s recent efforts to aid platforms battling liquidity issues following the FTX crash.

According to the post, CZ does not believe the crypto industry is in dire straits. He explained that Binance is working to support troubled projects for the good of the general crypto space.

Crypto is fine. It’s the beauty of decentralization. We are just part of it.”

Zhao Says FTX Brought on its Downfall

Notably, Binance attempted an FTX buyout at the onset of the collapse of SBF’s empire in the hopes of saving the exchange. However, Zhao backed out of the deal declaring FTX beyond salvation. The Binance founder also touched on the thought that the FTX crash was due to third-party influence. 

Indeed, some crypto community members believe that Zhao’s tweet before the spiral led to FTX’s collapse. As such, he clarified that a tweet could not have brought down a healthy platform. He also cited a source noting that a tweet from Caroline Ellison, CEO of Alameda research, shared 16 minutes after his post could have kicked off the crash.

FTX killed themselves (and their users) because they stole billions of dollars of user funds. Period,” CZ said. 

Binance Doesn’t Pay Much Attention to Rivals

CZ also added that there had never been any good intention backing Bankman-Fried’s lies. In his thread, he pointed out an example of the aforementioned lies. According to him, Bankman-Fried has tried to frame him alongside various other key crypto players as enemies. SBF’s purported goal was to set himself up to come across as the hero.

Bitcoin live price
price change

Zhao described the 30-year-old as a master manipulator in the aspect of media and key opinion leaders. Returning to one of his original clarifications, CZ closed the thread by explaining Binance’s perspective on things.  The exchange reportedly doesn’t keep tabs on competitors. CZ claims they believe it’s a waste of resources when the crypto industry had only gotten to a small percentage of the global populace. 

We want multiple exchanges, multiple blockchains, multiple wallets, etc, to co-exist in the ecosystem. So let’s keep building.”

Stay up to date with our latest articles