CZ calls Kevin O’Leary ‘a liar’ regarding accusations against Binance

Binance CEO and co-founder Changpeng Zhao called Canadian capitalist and businessman Kevin O’Leary “a liar” connected the CNBC pre-market quality programme Squawk Box.

"How acrophobic are you that the wealth fixed to you by @SBF_FTX volition beryllium clawed back? Are you prepared to manus it backmost to creditors if they were to ask?" @andrewrsorkin asks @cz_binance: pic.twitter.com/nffAzVinHe

— Squawk Box (@SquawkCNBC) December 15, 2022

While testifying astatine a legislature proceeding connected Dec. 14 regarding the FTX scandal, O’Leary accused Binance of putting FTX retired of concern to go the planetary monopoly. O’Leary noted that immoderate of the FTX wealth went to Binance erstwhile Sam Bankman-Fried bought retired FTX shares from Binance. 

In effect to O’Leary’s accusations, the Binance CEO said helium was amazed that O’Leary made these remarks.

“Kevin O’Leary is making a clump of nonsense claims. They don’t marque sense, they don’t marque immoderate logic.”

Although Kevin O’Leary’s full FTX funds are seemingly gone, Zhao said helium was not acrophobic astir his oregon different FTX users’ funds. Furthermore, the Binance CEO doesn’t judge O’Leary invested successful FTX without knowing Binance was besides a shareholder.

CZ dismissed concerns astir $2.1 cardinal worthy of funds from FTX

In the interview, Zhao was asked if Binance was prepared to instrumentality the $2.1 cardinal outgo it received from FTX erstwhile it exited its 2019 Series A concern to bankruptcy trustees. 

According to the U.S. bankruptcy code, immoderate beneficiary successful a two-year lookback model whitethorn beryllium reclaimed by the trustee if bankruptcy proceedings found that the outgo was fraudulent oregon that the idiosyncratic should person had tenable cognition that the outgo was fraudulent.

Zhao noted that Binance is “financially ok” but that helium would permission it up to the “perfectly capable” lawyers. 

The Binance CEO revealed that the repayment was a operation of BUSD, BNB, and FTT. He added that the FTT information of the repayment was significant, but Binance had “forgotten” astir it.

The station CZ calls Kevin O’Leary ‘a liar’ regarding accusations against Binance appeared archetypal connected CryptoSlate.