In a latest social media submit, former Binance CEO Changpeng Zhao commented on the second anniversary of the FTX collapse.
Zhao joked that it “positively” felt like these occasions occurred 20 years in the past.
On Nov. 8, 2022, FTX, the second-largest cryptocurrency alternate, began to unravel in a speedy style.
After squabbling with FTX founder Sam Bankman-Fried, Zhao shocked the cryptocurrency business by saying that Binance had singed a non-binding letter of intent to amass its archrival after the previous confronted “a major liquidity crunch.”
It additionally turned out that FTX had ceased processing withdrawals, pushing crypto costs sharply decrease.
Later, it turned out that Bankman-Fried had dedicated huge fraud, stealing billions of {dollars} from the alternate’s unlucky prospects.
Bankman-Fried ended up being sentenced to 25 years behind bars again in March.
Regardless of rising victorious in his public feud with Bankman-Fried, Zhao additionally ended up falling from grace. Earlier this 12 months, he served a number of months behind bars at a low-security correctional facility after pleading responsible to violating anti-money laundering legal guidelines and stepping down because the Binance CEO in 2023.
Whereas each crypto moguls ended up behind bars, their circumstances should not even remotely comparable. In a latest interview with Bloomberg, Zhao harassed that evaluating him to Bankman-Fried could be tantamount to evaluating a thief to “any person who didn’t register an organization.”
As reported by U.Immediately, Zhao doesn’t need to return to spearheading the Binance alternate.
