Changpeng Zhao responded to a recent statement of Billionaire Kevin O’Leary and noted that he was supporting Sam Bankman-Fried (SBF) despite being the main culprit behind the FTX bankruptcy.
Kevin O’Leary is a Shark tank show star and he is known as a businessman, entrepreneur, author, political candidate, and television presenter. Kevin was one of the customers & investors of the FTX exchange. After the bankruptcy of FTX exchange, Billionaire lost $15 million worth of funds in total.
On 8 December, Kevin appeared in an interview with CNBC TV where he talked about the loss that he faced with FTX bankruptcy.
Billionaire tried to drag FTX founder & former CEO Sam Bankman-Fried (SBF) from the negative point of view of critics and tried to support him in this critical situation.
Binance CEO Changpeng Zhao responded and noted that Kevin O’Leary is trying to support SBF, who is the main culprit behind the FTX exchange downfall.
Further Zhao explained that Binance exited FTX exchange 1.5 years ago and was only holding FTX tokens in return for withdrawing investment from FTX. After that FTX invested in huge numbers of companies & spent user’s funds on many promotional events.
Binance CEO also noted that SBF spends huge funds in the form of donations to politicians, Policymakers, friends & celebrities.
The major thing that Zhao pointed out is FTX was 1/10 of Binance but still spent 100 times more funds than Binance in marketing the services.
All-over Zhao figures out that Kevin O’Leary is looking for someone to blame for all the mistakes that have been made by SBF.