The CEO of the world’s largest crypto exchange responded to scathing comments addressed to him and said that the cryptocurrency industry is not a boxing match, and Binance has never treated competitors as combat opponents.
Recently, the head of the bankrupt FTX exchange Sam Bankman-Fried (Sam Bankman-Fried) wrote a whole
a series of tweets, where he mentioned the mysterious “sparring partner” of FTX, who, through his actions, allegedly caused serious damage to the exchange, contributing to the collapse. The commentators decided that Changpeng Zhao could have been a partner as Binance pulled out of the FTX takeover deal.
Binance does not seek to eliminate weaker platforms, but rather helps them survive adverse conditions, Zhao said in response. He advised Bankman-Freed to stop tweeting misleading people and instead focus on problem solving:
“Bankman-Fried should be doing other things than tweeting. I already told him to put on a suit, go to Washington and start answering questions.”
The head of Binance also commented on the recent aggressive attack on him by American economist Nouriel Roubini. Roubini called Zhao one of the “cogs in the corrupt cryptocurrency ecosystem.” However, Zhao replied that he did not care about such criticism, and it is difficult for pessimists to succeed in life. Zhao added that his exchange cooperates with the world’s leading regulators, so its activities are legal. This proves that Binance is “on the bright side” of the cryptocurrency industry, Zhao stated with confidence.
Zhao recently advised inexperienced investors to refrain from investing in digital assets until the market stabilizes. He also believes that the DeFi industry is capable of providing robust self-storage solutions for crypto assets.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
