In a recent social media put up, feeble Binance CEO Changpeng Zhao commented on the 2nd anniversary of the FTX collapse.
Zhao joked that it “positively” felt admire these events took residing 20 years previously.
On Nov. 8, 2022, FTX, the 2nd-biggest cryptocurrency exchange, started to unravel in a swiftly fashion.
After squabbling with FTX founder Sam Bankman-Fried, Zhao frightened the cryptocurrency alternate by asserting that Binance had singed a non-binding letter of intent to develop its archrival after the feeble confronted “a well-known liquidity crunch.”
It also was out that FTX had ceased processing withdrawals, pushing crypto prices sharply lower.
Later, it was out that Bankman-Fried had dedicated extensive fraud, stealing billions of greenbacks from the exchange’s unfortunate customers.
Bankman-Fried ended up being sentenced to 25 years in the relieve of bars relieve in March.
Despite emerging victorious in his public feud with Bankman-Fried, Zhao also ended up falling from grace. Earlier this 365 days, he served several months in the relieve of bars at a low-safety correctional facility after pleading responsible to violating anti-cash laundering guidelines and stepping down because the Binance CEO in 2023.
While both crypto moguls ended up in the relieve of bars, their cases are no longer even remotely linked. In a recent interview with Bloomberg, Zhao stressed out that evaluating him to Bankman-Fried may perchance perchance presumably be tantamount to evaluating a thief to “any individual who did no longer register an organization.”
As reported by U.Currently, Zhao doesn’t would prefer to straggle relieve to spearheading the Binance exchange.
