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Binance CEO orders investigation following FatManTerra’s allegations Binance CEO orders investigation following FatManTerra’s allegations

Binance CEO orders investigation following FatManTerra’s allegations

FatManTerra has been shining a light on some dark areas of the Terra ecosystem, which has prompted Binance to launch an investigation into some of the allegations.

Binance CEO orders investigation following FatManTerra’s allegations

Cover art/illustration via CryptoSlate

Taylor Locke, a reporter for Fortune magazine, has confirmed that Binance is looking into allegations levied against Terra LUNA by FatManTerra on Twitter.

In response to allegations from FatManTerra regarding Do Kwon being complicit in defrauding the community and being behind Basis Cash, Binance CEO Changpeng ‘CZ’ Zhao reportedly said:

โ€œI said, โ€˜โ€ฆIf we can draw any conclusions, we should share that with law enforcement.โ€™ To date, we cannot confirm or deny any of the allegations.โ€

CZ claims neither he nor his team had any knowledge that Do Kwon was behind the failed stablecoin project Basis Cash, as reported by FatManTerra.

CZ also made a point to distance himself from any interaction with Do Kwon, stating:

โ€œFor the record, I have never spoken to Do Kwon directly. Not in 2018 when Binance invested in TFL, and not recently.”

Do Kwon tried to speak with CZ directly a few times, according to the Binance CEO, who clarified:

โ€œI didn’t want to start a separate channel where I have to personally manage him [Do Kwon].โ€

FatManTerra commented on the story coming out in support of CZ saying:

“CZ himself can’t be held culpable for any of this – he’s a busy man. The onus falls on his negligent marketing & listing teams. Sadly, someone will have to foot the bill, but Binance will ultimately be better for it. He seems like a good man.”