"SBF Lied To FTX Investors And Users"- Binance CEO

November 17, 2022

Binance CEO CZ held SBF responsible for the collapse of FTX, which filed for bankruptcy last week.

Speaking with CNBC’s Squawk Box, CZ claimed that former FTX chief lied to his users, his shareholders and regulators.

Claiming misappropriation of users’ fund, Binance CEO said "at point, whatever data was in the data room we couldn't trust anymore".

"The assets we disclosed were 100% user assets. We don't do any conversion, it's just held as is," CZ told the CNBC journalist in an interview.

In this interview, Chengpeng Zhao also spoke about the future of crypto industry and said this incident will set us back a bit, but then the industry will become healthier.

Binance CEO revealed that they were never in a battle with SBF and FTX.

Despite wasting  energy on other smaller exchanges, Binance has been focusing on how to grow the industry, CZ said at the end of interview.