BINANCE CEO CALLS FTX FOUNDER ONE OF THE BIGGEST SCAMMERS IN HISTORY

[trytrades69]

Binance CEO Changpeng Zhao (CZ) denied claims that he was the culprit for the collapse of the FTX crypto exchange. FTX experienced a liquidity crisis shortly after Binance's founders announced to liquidate all FTT tokens.

According to Binance's CEO, CZ, he was not the cause of the FTX collapse, but FTX founder Sam Bankman-Fried (SBF) who designed this, CZ also said "SBF as one of the biggest scammers of all time."
CZ claims that SBF intends to establish itself as a hero in the destruction of the FTX exchange, as well as maintain the narrative that he made a mistake.

Interestingly, Binance's CEO was accused of being responsible for the fall of the exchange after the announcement of the liquidation of FTT, FTX's native token. However, Zhao said "if FTX's business model is healthy, it won't collapse in a single tweet".

Binance's CEO revealed this in response to a Bloomberg report trying to link the FTX collapse to CZ's twitter.

Read more => https://trynews.id/ceo-binance-mengatakan-pendiri-ftx-sebagai-salah-satu-penipu-terbesar-dalam-sejarah/

[Z-tight]

CZ and SBF both run the same business, so people will surely accuse CZ of of 'accelerating' the collapse of ftx because of tweets that they were going to sell all ftt tokens that they held, which added to the panic, and then the rush by everyone to withdraw their money, which sadly was not possible for many people.

But blaming CZ isn't sensible at all, he was not the one in control of the funds at ftx, neither was he the one guilty of misappropriation of funds; you can lay it down to what can possibly happen in centralized exchanges and services, when certain individuals are in control of people's funds they can use the funds for private investment to make profit, they can do many things with the money in their possession to make returns, but the users and owners of the funds wouldn't know because something hasn't gone wrong yet, the moment it does you begin to think that was the first scenario, not knowing it has been going on for very long.

CZ and Binance are no different from SBF and ftx, the only thing that's different is that whatever Binance are doing behind the scenes are yet to cause any big trouble for their users, but there is no assurance that it won't.

[Leviathan.007]

Changpeng Zhao is running exactly the same business as the owner of FTX and their both are doing the same thing, I'm not saying that's going to happen but there is a possibility to say Zhao will have the same future as the owner of FTX is the future and we will talk about the binance SEO so doesn't matter what he says about the owner of FTX because he is maybe just saying this to show himself and his exchange as a trustworthy platform.

[Husires]

These words were to be interpreted within the framework of the trade war between the two exchanges, but since SBF was defeated, CZ will be able to make statements as he pleases without anyone questioning them.

Changpeng Zhao (CZ)'s attempt to appear as the "meek lamb" in this story is very funny. FTX's model was bad, but the timing of the liquidation of the tokens was not innocent. CZ may have contributed directly or indirectly to the speed of the platform's collapse. "He may have known about the weak financial position before For several months, I wait for the right moment to strike.”

When it's CZ's turn, the same accusations will be made against him.

[Rikafip]

Changpeng Zhao is running exactly the same business as the owner of FTX and their both are doing the same thing,

While they are (or more correctly were) in the same business, I am not so sure that they are both doing the same thing. Just wanna clear out that CZ/Binance are for sure doing some shady stuff that we have no idea about, but I doubt that he is so stupid to use users funds in massive way to cover his other businesses, like SBF did. And if he is indeed doing that, truth will be revelead soon.

Changpeng Zhao (CZ)'s attempt to appear as the "meek lamb" in this story is very funny. FTX's model was bad, but the timing of the liquidation of the tokens was not innocent. CZ may have contributed directly or indirectly to the speed of the platform's collapse. "He may have known about the weak financial position before For several months, I wait for the right moment to strike.”

Well he is trying to benefit as much as possible in this situation, and beating SBF while he is down can only appear him being more trustworthy in the eyes of an average crypto enthusiast who is choosing the next exchange where he gonna deposts his money.

Related to SBF, its unbelievable that this guy is still freely walking around like nothing happened but I guess all those millions he gave are now doing its work. Looking how situation is developing, I doubt that he will see any prison at all.

[jackg]

There's been MUCH bigger scams, some even became protocols for how a lot of things are run still...

CZ and SBF probably have a lot in common with in terms of scammy and shady practices, it's not abnormal for smaller companies to try to grow big by having aggressive monetary policies (such as most of their and their investors assets being collateral and used to grow themselves) the speed the crypto economy moves at means this is an unviable practice if you've got malicious players that can work fast (and you can't not expect to).

Afaik FTT was worth more than FTX held in user deposits at the time of their collapse so it's not like CZ didn't contribute to the collapse but I also never found ftx had something to offer (except more complex derivative products and some stocks related products that binance don't and can't - they failed to launch some a while back, I doubt they're back yet but haven't kept up).

[NotATether]

It's pathetic how the media is trying so hard to point fingers at CZ for this, while the real culprit (the founder responsible for wasting user funds) hasn't even got a slap on the wrist yet by any government.

[hugeblack]

Can we call CZ scammer because he makes a lot of false promises? They use the word de-centralization to all its services, and it is centralized. unknown individuals can stop, write off, and suspend transactions.
Can it be said that the influence of Binance on the altcoin market is scam?

Both are scammers if we do a deep examination but CZ is smart, he can generate liquidity and the platform management is not chaotic.

[tabas]

Well, on this one CZ is right because FTX has fallen and SBF f up with his business. While CZ and Binance is still standing up, for sure that there would be other competitors that wants him down and will sure to pull him down. Well, this is like the politics that we see at all times whether it's in crypto or not. If we change the situation and CZ was the one that has gotten down, then he'll sure to be called out as what's the shoes fit in with SBF right now. I'm not on either side but for sure with such fund and money from their users, it's just a matter on how they're handling and managing it and SBF caught misused it.

[dkbit98]

Let's see what CZ and his Binance exchange is doing, other than blaming FTX and every other exchange except his own.
Glassnode recently released new tool that is showing Proof of Reserves for biggest exchanges with all coins presented in nice graphical view.
You can see that huge majority of funds on Binance exchange is their own stable coin BUSD that is held on their centralized blockchain, Bitcoin and ethereum are much less in their reserves.
If you don't think this is strange than compare this data with all other exchanges shown on this Glassnode page:


https://studio.glassnode.com/dashboards/proof-of-reserves

Huobi exchange is in similar situation with their HT token, and other exchanges are mostly holding Bitcoin, USDT or USDC.
Better watch out if you use Binance, Huobi or SwissBorg exchange, whatever that is.

[malcovi2]

why people blaming CZ when it was coindesk publicly shared the leak regarding FTX's insolvency issue. Its better to ignore CZ because SBF is still running freely getting attention and interviews, he is trying to get sympathies.

As history taught us that its not good to trust any centralized exchangers because they are at high risk of hacks and human incompetency.

[noorman0]

Making fun of competitors sometimes backfires, I consider CZ too bold to presume to be clean of dirty practices to corner opponents.
To implement the game behind the scenes, SBF is too young (in experience) than CZ in this industry, but it's only a matter of time, all the cheating will be exposed.

[Darker45]

And that's true. SBF is indeed one of the biggest scammers in the history of crypto. But this doesn't save CZ from being called the same name. After all, they're both of the same feathers. And while SBF was a total failure it doesn't mean CZ didn't have a hand in the collapse of FTX.

It's unfortunate, however, how SBF is being treated as some sort of a victim when he's the primary culprit. He's a criminal and yet he's been giving interviews around as if he didn't commit anything. Why is he still a free man until now? It certainly pays off to give millions to powerful people.

[Findingnemo]

Binance CEO Changpeng Zhao (CZ) denied claims that he was the culprit for the collapse of the FTX crypto exchange. FTX experienced a liquidity crisis shortly after Binance's founders announced to liquidate all FTT tokens.

According to Binance's CEO, CZ, he was not the cause of the FTX collapse, but FTX founder Sam Bankman-Fried (SBF) who designed this, CZ also said "SBF as one of the biggest scammers of all time."
CZ claims that SBF intends to establish itself as a hero in the destruction of the FTX exchange, as well as maintain the narrative that he made a mistake.

Interestingly, Binance's CEO was accused of being responsible for the fall of the exchange after the announcement of the liquidation of FTT, FTX's native token. However, Zhao said "if FTX's business model is healthy, it won't collapse in a single tweet".

Binance's CEO revealed this in response to a Bloomberg report trying to link the FTX collapse to CZ's twitter.

Read more => https://trynews.id/ceo-binance-mengatakan-pendiri-ftx-sebagai-salah-satu-penipu-terbesar-dalam-sejarah/

As I said earlier CZ can't be responsible for anything related to FTX fall, if their system is promising why the whole company will become bankrupt because of liquidity issues happens on other exchange.

What CZ did is just watching the fall of the competitor instead of acquiring it but we can't blame him for not buying the FTX exchange. Anyways blaming one another is not going to compensate the loss made by the users so this should atleast be a lofe lesson for upcoming traders who uses centralized exchanges.

[posi]

What's more interesting is that SBF is still free and enjoying after all these incidents, and the one who has to bear this criticism is CZ. Although we don't know the exact cause behind the crash of FTX, but I'm glad it collapsed faster because of CZ's tweet because if let FTX had lasted longer, the consequences could be even worse now.
How can a leading exchange with the 2nd largest trading volume in the market, and before that, they claimed to have 10 billion available and ready to buy back 500 million FTT if CZ sold it, collapse so quickly?

[Coin_trader]

Binance CEO Changpeng Zhao (CZ) denied claims that he was the culprit for the collapse of the FTX crypto exchange. FTX experienced a liquidity crisis shortly after Binance's founders announced to liquidate all FTT tokens.

According to Binance's CEO, CZ, he was not the cause of the FTX collapse, but FTX founder Sam Bankman-Fried (SBF) who designed this, CZ also said "SBF as one of the biggest scammers of all time."
CZ claims that SBF intends to establish itself as a hero in the destruction of the FTX exchange, as well as maintain the narrative that he made a mistake.

Sam is really the real culprit because he didn’t have any protection for his company on scenario like this while he keeps spending the company liquidity without taking in consideration that liability is already greater than the FTX assets in case one of the major investors pull out. This can be avoided if they have terms that protect them on moves like this by CZ. Clearly Sam trust that CZ will never gonna pull out there assets due to the profit that they are giving. It’s too bad that CZ decided to cut lose with them to dominate again the market.

CZ is part of the collapse of FTX because he knew that will happened before he decided to stirred the issue about Binance pulling there asset. This bullshit claim of CZ is just an act to clean his hands but destroying FTX is part of his plan. The crypto market is just a collateral on the war between the 2 giant crypto exchange.

Interestingly, Binance's CEO was accused of being responsible for the fall of the exchange after the announcement of the liquidation of FTT, FTX's native token. However, Zhao said "if FTX's business model is healthy, it won't collapse in a single tweet".

Binance's CEO revealed this in response to a Bloomberg report trying to link the FTX collapse to CZ's twitter.

This is indeed the start of everything because FTX investor and user will not panic if they exit silently instead they broadcast it to create FUD and reduce the liquidity of FTX further to push the collapse plan. Only no brainer will believe that CZ didn’t plan the fall of FTX. Possibly he knew how rotten the financial status of FTX that’s why he knew when to press his attack for a sure damage.

Read more => https://trynews.id/ceo-binance-mengatakan-pendiri-ftx-sebagai-salah-satu-penipu-terbesar-dalam-sejarah/

It will be better if you will share the source in english since you are posting in global discussion board.