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December 8, 2022

Binance CEO Changpeng Zhao Addresses ‘Narrative’ He Says FTX Founder Sam Bankman-Fried Painted Against Him

By Conor Devitt

Changpeng Zhao, chief executive of the top crypto exchange Binance, says disgraced former FTX CEO Sam Bankman-Fried is a “master manipulator” who “perpetuated a narrative” against him.

Zhao says on Twitter that it’s a “wrong narrative” that his tweet killed FTX in November.

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“FTX killed themselves (and their users) because they stole billions of dollars of user funds. Period…

No healthy business can be destroyed by a tweet.”

The Binance CEO says his exchange doesn’t focus on competitors because the industry has only captured 6% of the population. He says the company wants multiple exchanges to coexist in the space.

Zhao also says Bankman-Fried lied to his customers and didn’t have good intentions.

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“SBF perpetuated a narrative painting me and other people as the ‘bad guys.’ It was critical in maintaining the fantasy that he was a ‘hero.’ SBF is one of the greatest fraudsters in history, he is also a master manipulator when it comes to media and key opinion leaders.”