SBF claims ‘You won’ as he hits back at CZ defamatory Twitter thread SBF claims ‘You won’ as he hits back at CZ defamatory Twitter thread
Sam Bankman-Fried hits back at 11-post thread launched by CZ discussing Kevin O'Leary's defense of SBF and the FTX collapse.
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Updated: Aug. 24, 2023 at 6:16 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Sam Bankman-Fried (SBF) has spoken out following Binance founder Changpeng Zhao’s (CZ) public thread referring to Kevin O’Leary’s defense of FTX and referring to SBF as “a fraudster.” The feud continued following CZ’s recent allegations that CZ accused SBF of trying to depeg USDT through Alameda.
It seems $15m not only changed @kevinolearytvโs mind about crypto, it also made him align with a fraudster. Is he seriously defending SBF?https://t.co/JoKapOcMXr (baseless attacks start around 4:20).
A thread. 1/11
— CZ ๐ถ Binance (@cz_binance) December 9, 2022
CZ alleged that SBF “launched a series of offensive tirades at multiple Binance team members” in his Twitter thread.
11/11 If @kevinolearytv is looking for someone to blame for the implosion of FTX, he should start by wagging his finger at his investment partner, Sam, and then perhaps at the man in the mirror.
— CZ ๐ถ Binance (@cz_binance) December 9, 2022
In rebuttal, SBF announced that CZ had “won” and alleged that CZ had lied regarding the details surrounding Binance’s buyout of FTX.
You won, @cz_binance.
There's no need to lie, now, about the buyout.
We initiated conversations around buying you out, and we decided to do it because it was important for our business.
And while I was frustrated with your 'negotiation' tactics, I chose to still do it.
— SBF (@SBF_FTX) December 9, 2022
Continuing his rebuttal, SBF alleged that CZ threatened to leave the deal if FTX didn’t “kick in an extra ~$75m.”
You threatened to walk at the last minute if we didn't kick in an extra ~$75m.
We did it anyway because this just made us feel more confident we didn't want Binance on our cap table.
But again, none of this is necessary. You won. Why are you lying about this now?
— SBF (@SBF_FTX) December 9, 2022
Reiterating that CZ has “won,” SBF questioned CZ’s statements, asking – and alleging – why CZ is lying.
Among other things, as you know, you didn't even have the rights to pull out as an investor unless we chose to buy you out–much of the tokens/equity were still locked.
— SBF (@SBF_FTX) December 9, 2022
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Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.