Binance Boss Changpeng Zhao Feuds with FTX Boss Sam Bankman-Fried

Changpeng Zhao and Sam Bankman-Fried. (Photo; Doc. Trust Nodes)

JAKARTA – An influential figure in the crypto industry and the founder of Binance, Changpeng Zhao or commonly known as CZ was recently reported to be in a feud with collapsing FTX founder Sam Bankman-Fried or SBF.

CZ reportedly accused SBF of being a “fraudster” in a Twitter thread. Apart from that, he also revealed details about FTX's purchase of Binance's stake in the company. He said SBF was "unwell" after Binance pulled out of its FTX investment.

Launching DailyCoin, the former CEO of FTX claims that CZ lied about the deal. According to the SBF, FTX initiated the purchase. He also said that Binance "threatened to run at the last minute" without the additional $75 million.

"You won. No need to lie, now, about the purchase," said FTX founder and former CEO Sam Bankman-Fried.

The feud started when Changpeng Zhao responded to his interview with former FTX spokesman Kevin O'Leary. In the interview, O'Leary expected Binance to have problems with regulators.

"Apparently USD 15 million not only changed Kevin O'Leary's mind about crypto, it aligned him with scammers. Is he serious about defending SBF?" Said Binance boss Changpeng Zhao.

As is well known, Kevin O'Leary once admitted that he received a fee of USD 15 million from FTX to become an FTX influencer. In fact, O'Leary had explained that FTX was experiencing difficulties due to the purchase of billions of dollars worth of company shares from Binance. Binance is an early investor in FTX and owns 20 percent of the exchange.

O'Leary said the purchase cost FTX "several billion dollars." In addition, he said he was forced to buy Binance due to regulatory issues, indicating that regulators were uncomfortable with Binance.

Changpeng Zhao immediately responded to O'Leary's statement with links to the more than 470 companies FTX has invested in since buying Binance. The investment totaled USD 5.3 billion.