FTX founder SBF tells Binance CEO, 'You won' in tirade tweets Crypto cz_binance SBF_FTX
FTX exchange imploded. To understand the magnitude of the implosion, you should know that, earlier this year, FTX had been valued at $32 billion by private investors.We initiated conversations around buying you out, and we decided to do it because it was important for our business.December 9, 2022
When the issue of FTX's liquidity crunch came to light, Bankman-Fried was said to be scrambling to raise money from venture capitalists and other investors before he approached Binance. The CEO of Binance, Chanpeng Zhao or CZ, initially agreed to step in, but his company quickly changed course, citing reports of"mishandled customer funds" and U.S. agency investigations.
A month after the incident, disgraced FTX founder Sam Bankman-Fried, also known as SBF, is revisiting the matter following tweets made by CZ about Shark Tank's Kevin O'Leary's endorsement of FTX. Zhao slammed"Mr. Wonderful," Kevin O'Leary, claiming that Binance does its due diligence even after investing.The Binance CEO also stated that as an early investor in FTX, it became increasingly uncomfortable with Alameda and SBF and initiated the exit process more than 1.5 years ago.SBF said that the conversations for the buyout were initiated because it was essential at the time.
1) I still do not have access to much of my data -- professional or personal. So there is a limit to what I will be able to say, and I won't be as helpful as I'd like.
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