Binance’s CEO says Kevin O’Leary is a Liar

Sahana Kiran
Source – Bloomberg

As witnessed by the entire globe, the FTX debacle has been taking several twists and turns. While Sam Bankman-Fried was arrested and is currently in the Bahamas, businessman Kevin O’Leary appeared before the senate with his controversial testimony.

O’Leary was subject to immense hate from the crypto community following his remarks about Binance. The Shark Tank host outrightly blamed Binance for putting FTX out of business. Appearing in a recent interview with CNBC, Changpeng Zhao the CEO of Binance said,

“I think Kevin is a liar. I think he’s lying about a bunch of stuff”

CZ labeled O’Leary a liar mostly because of the fact that he claims to have invested in FTX without knowing Binance was a shareholder. However, he was very specific in remembering the details of a transaction that he made two years ago. Therefore, the billionaire investor’s contradictory statements are what made CZ call him a liar.

It should be noted that O’Leary accused Binance of meddling with FTX in order to garner a “massive, unregulated monopoly.”

“We have solid revenue” – Binance’s CZ assures

Over the last couple of days, fear around the exposure of FTX or the downfall of centralized exchanges has been surfacing. As a result, CZ has time and again been asked if Binance was safe. In the latest interview, CZ said “We are financially ok.”

Back in 2019, Binance amassed $2.1 billion from FTX after it exited its 2019 Series A investment with FTX. While there is a possibility of this being reclaimed by the trustee through bankruptcy proceedings, CZ did not seem to worry. The Binance CEO was asked if he would be able to return $2.1 million if FTX takes the legal route for it. Not only did CZ affirm that Binance had “solid revenue” he also added,

“I think we’ll leave that to the lawyers. I think our legal team is perfectly capable of handling it.”