Investing.com – The head of the world’s largest crypto exchange Binance, Zhangpeng Zhao, who helped expose the insolvency of Sam Bankman-Fried and his company FTX, called him “one of the greatest scammers in history” and accused the media of manipulating. writes Yahoo.
According to Zhao, Bankman-Freed is simply trying to avoid jail time, saying in several recent highly publicized interviews that FTX’s failure was simply the result of bad luck and external attacks.
“No healthy business can be destroyed by a single tweet,” Zhao wrote.
In his opinion, the media misrepresented Bankman-Fried as a “well-intentioned” person who “just made a few mistakes” as “a lie is never well-intentioned”.
While Bankman-Fried himself has not yet been charged in the US, some experts say it may only be a matter of time.
According to expert Thomas P. Vardanian, executive director of the nonprofit Center for Financial Technology and Cybersecurity, which has represented parties in 30 of the 50 largest financial institution bankruptcies in U.S. history, the FTX bankruptcy filings appear to be “pretty devastating” for Bankman-Fried.
— Yahoo materials were used in the preparation