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Crypto Community Attacks SBF for Blaming FTX’s Ruin on Binance CEO


coinedition.com 02 December 2022 13:10, UTC
Reading time: ~2 m

The crypto community is having a field day mocking Sam Bankman-Fried (SBF), the former CEO of the bankrupt FTX crypto exchange, for his comment against Binance CEO Changpeng Zhao (CZ).

Recently, Bankman-Fried blamed the CEO of the largest crypto exchange for FTX’s collapse. He argued that the FTX’s situation would be a “lot more stable” had Binance CEO not expressed concerns about its balance sheet before pledging to dump more than half a billion dollars in FTT.

Crypto enthusiasts on Reddit sarcastically reworded Bankman-Fried’s comment, saying:

‘If nobody talked about the mess I created, I still would have the job.’ ‘No FTX would be stable if CZ didn’t expose our dirty work.’

Furthermore, the crypto community reproached Bankman-Fried for refusing to take responsibility, adding that a legitimate business cannot go bankrupt because of a tweet. Twitter user @9thdecimal said FTX’s collapse was not a mistake or by accident. They argued that ‘it was a crime scene, and Bankman-Fried is blaming everyone for getting caught.’

Akin to saying a bank robber would have gotten away with bank robbery if bank tellers didn’t sound bank robber alarm

Analyzing movements, FTX collapse wasn’t a mistake or accident, it was a crime scene,& he’s blaming everyone for getting caught, but guy who did the bank robbing

— 9thDecimal.io (@9thdecimal) December 2, 2022

Previously, despite the allegations of customer fund misappropriation, the former CEO continued assuring FTX users that the exchange was solvent, only to turn back days later to delete those reassuring tweets.

In a recent interview, New York Times journalist Andrew Sorkin asked Bankman-Fried why he deleted his tweets that assured customers that all funds were available. He said, “Things change fast.” He continued:

The Bahamian regulators also took some assets into safekeeping. And there have also been some improper access of assets on the exchange.

Nonetheless, he said in the interview that FTX.US was still solvent and that withdrawals could commence soon.

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