Changpeng Zhao calls Sam Bankman-Fried ‘one of the greatest fraudsters in history’

Binance chief Changpeng Zhao called Sam Bankman-Fried (SBF), founder and former CEO the bankrupt FTX exchange, ‘one of the greatest fraudsters in history’.

1 “CZ wants to be the savior of crypto.”

Crypto doesn’t need saving. Crypto is fine. It’s 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’s in our collective best interest.

— CZ 🔶 Binance (@cz_binance) December 6, 2022

‘He is also a master manipulator when it comes to the media and key opinion leaders,’ added Zhao (CZ).

The Binance founder weighed in on the main narratives circulating in the community, breaking them down point by point:

• CZ wants to be the savior of the crypto industry.

‘The industry does not need saving; it is fine. It is the virtue of decentralization, and we are simply part of it and want to help other good projects that have fallen on hard times. It is in our collective interest.’

• FTX killed a third party.

‘No healthy business can be destroyed by a tweet. If there was one, it was Caroline Ellison’s response to my tweet from November 6. The data show that it became a real reason for people to dump FTT.’

• SBF vs. CZ — an epic showdown.

‘We do not chase competitors, because it’s a waste of time and resources when only about 6% of the population engages with the industry. We want more diversity in the ecosystem of exchanges, blockchains, wallets and other things.’

Zhao also rejected the view that SBF had good intentions but made certain mistakes. Zhao emphasised the founder’s ‘relentless tendency’ to present him and others as ‘bad guys’, and himself as ‘the hero’.

Earlier, Galaxy Digital founder Mike Novogratz criticised SBF for his remarks in the media, calling them ‘nonsense’.

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