Investing.com UK - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Binance's CZ Says 'Shark Tank' Star Kevin O'Leary Is 'Liar' Making 'Nonsense Claims' About FTX Collapse

Published 16/12/2022, 12:14
© Reuters. Binance's CZ Says 'Shark Tank' Star Kevin O'Leary Is 'Liar' Making 'Nonsense Claims' About FTX Collapse

Benzinga - Binance CEO and co-founder Changpeng Zhao, known popularly as "CZ", blasted Canadian investor and businessman Kevin O’Leary as a "liar".

What Happened: At a senate hearing on Wednesday, O'Leary accused Binance of leveraging the FTX scandal to gain a global monopoly by putting FTX (CRYPTO: FTT) out of business. He cited Sam Bankman-Fried's purchase of FTX shares from Binance as evidence of some money being transferred to Binance.

See More: Best Crypto Day Trading Strategies

In response to O'Leary's accusations, Zhao said he was taken aback by the remarks. “Kevin O’Leary is making a bunch of nonsense claims. They don’t make sense, they don’t make any logic.”

In the interview, Zhao was asked if Binance was prepared to return the $2.1 billion payment it received from FTX when it exited its 2019 Series A investment to bankruptcy trustees. Zhao noted that Binance was “financially ok” and confidently referred such matters to their “perfectly capable” lawyers to take care of.

In November, FTX declared bankruptcy with more than $10 billion in liabilities. This news came shortly after SBF's arrest by Bahamian authorities for charges such as wire fraud, conspiracy, securities fraud, securities fraud conspiracy, and money laundering.

Read Next: Sam Bankman-Fried Reportedly Trying To Secure Bail In Bahamas After Being Deemed A Flight Risk

Photo by Web Summit on Flickr

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.