In a conversation with Binance CEO Changpeng Zhao (CZ) and the Milken Institute, the exchange executive called former FTX CEO Sam Bankman-Fried (SBF) “psychopathfor one of the tweets SBF wrote last week. CZ’s statements follow accusations from Three Arrows Capital (3AC) co-founder Kyle Davies. The 3AC co-founder claimed that FTX and Alameda Research “agreed to trade against clients.”
Binance CEO tells Sam Bankman-Fried to dress up and face the music in Washington DC.
Cryptocurrency industry executives aren’t too happy with former FTX CEO Sam Bankman-Fried (SBF), and SBF has come under a lot of criticism lately. Changpeng Zhao, CEO of Binance (CZ) spoke to of the SBF with the Milken Institute on November 17, 2022, and he explained that he did not know why the SBF was so important. considered Binance as a “sparring partner“.
20) At some point I might have more to say about a particular sparring partner, so to speak.
But you know, glass houses. So for now, all I’ll say is:
well played; you won.
— SBF (@SBF_FTX) November 10, 2022
CZ says that when SBF contacted the leader of Binance, CZ thought it was an over-the-counter (OTC) transaction to buy FTT tokens. Next, CZ noted that when SBF called the former CEO of FTX, he explained in detail that they had “big problems” and that the company was “looking for redemption“.
At the Milken Institute event, CZ was asked why SBF tweeted and called Binance or CZ a “sparring partner”. Binance CEO responded by saying “I think only a psychopath can write this tweet“. Along with calling SBF a psychopath, CZ also noted that he thinks SBF should stop tweeting and noted that he should “put on a suit” to face the music in Washington DC.
3AC Co-Founder Kyle Davies Accuses FTX/Alameda of Conspiring to Trade Against Clients, SBF Denies Charges, Alameda Involved in Celsius Failure.
Binance’s CEO isn’t the only person to criticize FTX and Alameda, as the now-defunct Three Arrows Capital (3AC) crypto hedge fund co-founder Kyle Davies, accused FTX and Alameda to collude against the company.
Speaking to CNBC’s Kate Rooney, Davies claims that “FTX [et] Alameda Research have agreed to trade against customers” and added: “We, [Three Arrows Capital] we were driven out and our positions liquidated“. However, CNBC received a statement from SBF who said he was “shocked” by Davies’ allegations and said, “there is no truth to their allegations here”.
Although, FTX and Alameda have been accused of stop hunting in the past and a Twitter feed recorded on archive.org claims that Alameda and FTX were involved in Celsius’ bankruptcy. The Plan C Twitter account claims that when the UST stablecoin of Terra collapsed, “Celsius got out first, suffered the least casualties, and didn’t want to help in the rescue.”
Dumb game woke westerns play
— Kyle Davies 🔺 (@KyleLDavies) November 16, 2022
Plan C insisted that after Celsius leaked, Alameda and FTX were stuck with locked LUNA and UST bags. Alameda has also been accused of manipulating the price of WAVES and selling lots of Lido’s staked ether called STETH. Just before FTX filed for bankruptcy protection, SBF announced to the public that Alameda would be shutting down its trading operations. Davies’ accusations show that FTX and Alameda may have had more than Binance as “sparring partner“.