FTX founder Sam Bankman-Fried (SBF) and Binance CEO Changpeng Zhao (CZ) clashed on Twitter this Friday (09). In a flood of posts on the social network, the former CEO of FTX called his arch-rival a liar.
Sam spoke out after Binance’s founder called him a scammer and suggested that FTX was trying to unplug USDT through the Alameda Research company.
CZ also took to Twitter to clear up what he called “false stories” about the defunct cryptocurrency exchange FTX and its founder.
The CEO of the world’s largest exchange also said that SBF “launched a series of offensive tirades against Binance employees” in his Twitter thread. In response, SBF said that CZ had “won” and that he didn’t have to keep lying.
“You won, CZ. No need to lie about the purchase now. We started talks about buying your stock and decided to do it because it was important to our business. And while I was frustrated by their ‘negotiation tactics’, I chose to do it anyway.”
You won, @cz_binance🇧🇷
There’s no reason to lie about the buyout now.
We started talks to buy you out, and we decided to do this because it was important to our business.
And while I was frustrated with your “negotiation tactics,” I chose to do it anyway.
— SBF (@SBF_FTX) December 9, 2022
Liar
Other SBF posts refer to when Binance announced it would buy FTX after the exchange froze withdrawals.
FTX agreed to sell itself to Binance after reports revealed an uncomfortably close relationship between FTX and sister company Alameda Research. However, Binance pulled out of the transaction a day later.
After Binance pulled out of the deal, Bankman-Fried reportedly became “unhinged” and began a series of abusive diatribes, according to CZ. However, according to SBF, none of that happened.
“Sam was so distraught when we decided to leave as an investor that he launched a series of offensive diatribes against several members of the Binance team, including threats to go to great lengths to get us paid”wrote Binance’s CEO in the tweet🇧🇷 “We still have those texts.”
SBF reiterated that CZ had “won” and questioned the statements, again calling him a liar.
“You threatened to pull out of the deal at the last minute if we didn’t give you an extra ~$75 million. We did it anyway because it gave us more confidence that we didn’t want Binance in our cap table. But then again, none of that is necessary. You won. Why are you lying about it now?”
Among other things, as you know, you didn’t even have the right to withdraw as an investor unless we chose to buy you out – many of the tokens/equity were still locked.
— SBF (@SBF_FTX) December 9, 2022
CZ ended the feud with a clear reference to SBF’s scheduled conversation with US lawmakers, as former CEO of FTX promised to appear before a House committee on December 13.
“Don’t try to tell your friends to focus on us”, wrote CZ. “Focus on you. You should have known that by now.”
Source: Live Coins
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
