Kevin O’Leary says Binance put FTX out of business News ▸ Binance ▸ Bankruptcy
Kevin O’Leary says Binance put FTX out of business
Binance CEO previously criticized O’Leary penchant for defending Sam Bankman-Fried and FTX.
1 min read
Updated: Aug. 20, 2023 at 9:35 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Shark Tank investor Kevin O’Leary said at the Dec. 14 Senate Banking Committee on FTX’s collapse that Binance put the crypto exchange out of business.
While answering a question on why he thought FTX failed from Senator Pat Toomey, O’Leary said:
“I have an opinion, I don’t have the records. Here it is… These two behemoths that own the unregulated markets together and ruled these incredible businesses in terms of growth were at war with each other. And one put the other out of business intentionally.”
He added that while there may be nothing wrong with that but noted that “Binance is a massive global monopoly now.”
In his planned testimony before the committee, O’Leary said he has applied for membership on the FTX creditors’ committee.
Binance CEO Changpeng Zhao previously criticized O’Leary’s penchant for defending Sam Bankman-Fried. According to CZ, the shark tank investor was aligning with a fraudster because of $15 million.
Mentioned in this article
Posted In: Binance, Bankruptcy
Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Featured Story
Advertise Here
In this article
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.
Terence Thomas Kevin O’Leary, nicknamed “Mr Wonderful”, is a Canadian businessman, entrepreneur, investor, author, political candidate, and television presenter.
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.