Jakarta –
CEO Binance Changpeng Zhao reportedly warned and criticized Sam Bankman-Fried for allegedly destabilizing the entire cryptocurrency industry, in a text message sent a few hours earlier FTP extensionBankman’s company, went bankrupt.
In the text about the leaked Signal application, quoted detikINET of the New York Post, Zhao warned the FTX founder that if there were any further missteps, Bankman would be in jail for a long time.
Zhao, better known as “CZ” in crypto circles, claims that Bankman and colleagues have engaged in dangerous trading actions at FTX. “Stop now, do no more damage,” snapped Zhao. “The more damage you do now, the longer you’ll be in prison.”
Just before FTX collapsed, Bankman secretly transferred $10 billion in FTX client funds to support another entity he owns, namely cryptocurrency trading firm Alameda Research. FTX and more than 100 of its affiliates filed for bankruptcy Nov. 11 after dealing with a cash crunch.
The banker is currently being held in the Bahamas and is being threatened with extradition to the United States on the main charge of embezzling client funds. He reportedly faces 115 years in prison. Zhao himself had previously labeled Bankman a fraud.
Zhao claimed that Bankman misused FTX consumers’ money. “Sam knew that he was using user funds to trade with Alameda. I was shocked, I didn’t know that he lied to everyone,” Zhao said.
Therefore, FTX uses the 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.
Watch a video “YG Entertainment enters the world of the metaverse with Binance“
[Gambas:Video 20detik]
(fyk/fyk)
