“We Didn’t Even Realize”: Binance CEO CZ on Alleged FTX Fight
While Binance and Changpeng “CZ” Zhao got plenty of credit for putting the final nail in FTX’s coffin last week, the CEO said in an interview on Thursday that his company never faced FTX.
“We’re not focused on other smaller exchanges,” CZ told CNBC.
There has been a lot of talk about Sam Bankman-Fried’s alleged rivalry with CZ, especially after reports that SBF had badmouthed Binance’s CEO in Washington DC last week, just before FTX’s announced bankruptcy, SBF acknowledged defeat with a tweet , which read: “Well played; you won”, was addressed to a “certain sparring partner”. He later said he regretted some of the conflicts created with CZ and told that New York Times that attacking his rival was not “a good strategic move”.
Some have blamed CZ for FTX’s bankruptcy. When he announced that Binance would be selling its FTT holdings, it effectively triggered a bank run that crashed the price of FTX’s native token. Still, on Thursday, CZ denied having an actual rivalry with SBF.
“He might think he’s in a fight with us,” CZ told CNBC. “We didn’t even notice.”
The real victim of FTX’s demise is the crypto industry as a whole, CZ continued, adding that he believes SBF has lied to investors, venture capitalists and employees – apart from perhaps a small group at the top who are involved was plot – but overall: “We shouldn’t blame this problem on a single person – other than Sam.”
CZ, which has branded itself as a prudent alternative to SBF in the crypto world, still has its doubters. The famous economist Nouriel “Dr. Doom” Roubini called the Binance CEO a “walking time bomb” at Abu Dhabi Finance Week.
CZ brushed off Roubini’s comments, adding, “I don’t think what he says carries much weight.”
Looking ahead, CZ said the industry should survive — if not thrive — even given the scale of the FTX debacle.
“This incident is going to set us back a little bit,” CZ told CBNC, “but then the industry gets healthier, so it’s actually better in the long run.”
Our new weekly Impact Report newsletter will examine how ESG news and trends are shaping the roles and responsibilities of today’s leaders – and how best to address these challenges. Subscribe here.
