Representations of cryptocurrencies are seen in front of displayed FTX logo and decreasing stock graph in this illustration taken November 10, 2022. REUTERS/Dado Ruvic/Illustration

Binance CEO Believes Sam Bankman-Fried is a Liar

According to recent reports, Binance CEO Changpeng Zhao believes that former FTX CEO Sam Bankman Fried lied to everyone. Read the entire article to learn more about this news piece.

Changpeng Zhao
Changpeng Zhao

Changpeng Zhao calls SBF a liar

Taking place on Twitter Spaces, Cointelegraph reported that the Binance CEO had some harrowing beliefs about FTX’s downfall. Zhao stated, “I think SBF lied to his employees, shareholders, regulators, and users.”

This statement comes after the downfall of the company. The company has recently filed for bankruptcy. This platform which was extremely popular and well-known is now without its CEO and on the verge of fading away.  This all happened after the news that the company was making use of customer assets to fund risky bets by their sister platform, Alameda research

Under these circumstances, people believe that SBF lied to everyone and did not tell anyone the true story of what was happening. Seeing the downfall of FTX, the other cryptocurrency platforms have become very strict about their transparency measures. As SBF has given his resignation, Changpeng Zhao’s claims against him seem to be valid.

About Binance

For people who do not know much about this platform, this article will give all the necessary information. Binance is a cryptocurrency exchange platform. Cryptocurrency in simple terms is digital money. It is not an actual currency, it is money in a digital form and the person who owns it is allowed to do whatever he/she wants to do with it. The company believes that people should be free to earn, share, give and share their money however they want and their identity and background have no role in the matter. Recently, the CEO of the company, Changpeng Zhao accused the CEO of the rival company FTX of lying.

About FTX

The company which has recently declared bankruptcy has been built by traders for the traders. It is a platform that has been made for experienced traders and for others who are comparatively new to the world of crypto. The company strives towards providing a lot of innovative products to its customers and wishes to make the platform a place where all the people can join and can be benefited as well. The platform also has an app that can be downloaded by the users to do all the trading they want while they are on the go. This makes the life of the users super convenient.