The owner of the FTX exchange deceived everyone

On November 14, during an AMA Q&A event on Twitter, Zhao was asked if Binance was partly responsible for the crash of FTX by investing in it. “If a bad guy wants to be a bad guy, you can’t stop him,” he replied.

In the case of FTX, “I think they are lying”Zhao shared.

“They lied. FTX lied. I believe Sam deceived employees, users, shareholders, global authorities and all users. So he should take the big blame.”

However, Zhao admits that venture capital firms and those who have invested in FTX, including Binance, are partly responsible for not seeing the exchange’s problems. Of course, they will not compensate FTX users who have suffered damage.

Last week, Binance revealed its intention to “rescue” FTX from the crisis with an acquisition plan. However, after signing the non-binding agreement, Zhao’s company quickly “cancelled” the next day, causing more panic among investors.

FTX from one of the largest cryptocurrency exchanges in the world has filed for bankruptcy protection. The founder of SBF also resigned as CEO. Meanwhile, the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission and the US Department of Justice are said to be investigating FTX. The SEC is also investigating the SBF. Bahamas police questioned the SBF over the weekend.

The collapse of FTX has been likened by many to the collapse of Lehman Brothers, which triggered the 2008 financial crisis.

(According to BI)