Binance CEO Promises to Release Crypto Firm Audit, Calls Sam Bankman-Fried a “Psychopath”
Binance’s CEO demanded a full investigation into FTX’s demise before launching a scathing attack on Sam Bankman-Fried, calling his mental stability into question.
The CEO of Binance, the world’s largest cryptocurrency exchange. Pledged Thursday to release an audit of the company and denied any role in the recent collapse of rival platform FTX.
After calling for a thorough investigation into FTX’s demise and promising an independent audit of Binance “in a couple of weeks. Changpeng Zhao delivered a harsh critique of the company’s founder Sam Bankman-Fried, casting doubt on his mental stability.
Chinese-Canadian Zhao insisted “100%” that Binance would survive if investors suddenly withdrew funds from his platform at the Milken Institute’s Middle East and Africa Summit in Abu Dhabi.
Last week, FTX declared bankruptcy, and Bankman-Fried resigned as CEO just one day. After Zhao abandoned plans to acquire the crisis-hit competitor.
The demise of FTX, which was once valued at $32 billion (roughly Rs. 2,61,400 crore), sent major cryptocurrencies plummeting also eroded investor confidence in the volatile cryptocurrency sector.
However, he denied intentionally erasing FTX by announcing earlier that Binance was liquidating holdings in FTX’s FTT token.
Bankman-Fried responded on Twitter, saying, “Well played; you won.” “Only a psychopath could write that tweet,” Zhao, 45, said, downplaying his market influence.
“Nobody cares if I sell Bitcoin,” he claimed. According to the Forbes-listed multibillionaire, FTX’s problems were caused by investors’ “suspicion” also “frustration.” Zhao responded, “Yes… and I think in a couple of weeks,” when asked if Binance would release an independent audit of its reserves and liabilities.
Zhao was skeptical that better regulation was the only way to solve the crypto sector’s problems. Arguing that senior industry figures should set standards.
“I believe regulation is an important component…but, more importantly, industry players must lead by example,” he said.
