Jakarta –
The fall of the cryptocurrency exchange firm FTP extensionwho made it its founder Fried Sam Bankman fallen into poverty and now being investigated, he cannot be separated from the role of the boss Binanza, Changpeng Zhao. Changpeng also said that Bankman is a liar.
Binance, a company similar in business to FTX, originally intended to buy FTX. However, they suddenly canceled it and sold FTX-issued FTT digital assets. This caused a panic where many FTX users simultaneously withdrew FTX deposits which caused the company to collapse.
As quoted by detikINET from the NY Post, Zhao said Bankman misused consumers’ money. “Sam knows that he is using user funds to exchange for Alameda,” Zhao said.
He was referring to Alameda Research, the company run by Bankman’s girlfriend Caroline Ellison. “I was shocked, I didn’t know she lied to everyone,” Zhao said.
Like this, FTP extension using money deposited by its users to trade through Alameda Research which is high risk. Zhao learned of the ulcers after his company, Binance, studied FTX’s finances.
“It is quite clear that there has been misuse of user funds. User funds have disappeared,” Zhao said.
“It was clear that Bankman had lied to users, to investors, to his employees. At that point, we couldn’t trust their data anymore, so we didn’t go too far,” he added.
Binance itself has a digital token like FTX, called BNB. Zhao pointed out that BNB has never been used as collateral and also that Binance has been profitable and has a large liquidity supply.
“Binance has never used BNB as collateral and we have never gone into debt,” Zhao said.
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(fyk/fyk)
