Binance CEO criticizes Sam Bankman Fried’s actions
New York City: The Chief Executive Officer of the most prominent cryptocurrency trading platform, Binance, has lashed out at the acts of the former head of the now-defunct cryptocurrency exchange FTX as well as the perspectives of economist Nouriel Roubini on the FTX scandal.
Changpeng Zhao, better known by his stage name “CZ,” was asked to comment on a tweet made by Sam Bankman-Fried that referred to a “sparring partner,” who was primarily assumed to be CZ, during his appearance on Thursday at the Milken Institute’s Middle East and Africa Summit. Changpeng Zhao is often known by his stage name “CZ.”
During an event that took place during Abu Dhabi Finance Week on Wednesday, Roubini described the cryptocurrency industry and some of its most prominent members as a “environment that is absolutely corrupt.”
On Thursday, Zhao gave an interview to CNBC in which he responded candidly to the criticism by saying, “We don’t care.”
He made the implication that Roubini was “very rude” and “doesn’t know the local norm,” and he added that “such individuals will typically remain poor.” He proceeded by saying, “Negative energy won’t go you very far in life.”
The CEO has a packed schedule of speaking engagements during the last week. After outlining preparations for a rehabilitation fund for people who are having problems in the industry on Wednesday, he projected that cryptocurrencies “will be great” in the following day’s forecast.
Additionally, when delivering his remarks from Abu Dhabi, Zhao stated:
“We want the dominant industry players of today to protect the honorable industry players who may only suffer temporary harm,”
Due to the fact that FTX filed for bankruptcy on Friday and the price of bitcoin dropped below $17,000 for the first time since 2020, there has been a lot of attention focused on cryptocurrencies this week.
The events have given rise to concerns that the so-called “crypto contagion” would bring down other well-known firms operating in the industry, such as Crypto.com. The charges were refuted by the chief executive officer of the corporation, who said that the website was “functioning as normal.”
Zhao made the observation that while there would be a great deal of hardship in the near term, in the long run, it will hasten our efforts to enhance the overall health of our business.