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Sam Bankman-Fried Allegedly Spread Fake Rumors to Attack Binance CEO

Sam Bankman-Fried Allegedly Spread Fake Rumors to Attack Binance CEO

According to Binance's Chief Strategy Officer Patrick Hillman, Samuel Bankman-Fried, the founder of the FTX crypto exchange, was accused of spreading false or racist rumors about Changpeng Zhao, the CEO of Binance, before FTX's collapse.

Hillman’s tweet on April 20 suggests that SBF targeted Zhao to promote his scam.

Hillman’s statement was in reference to an article in Puck magazine, which describes the collapse of FTX and SBF’s purchase of a $45 million ownership stake in Skybridge Capital.

During SBF’s meetings with officials in Dubai, he bad-mouthed CZ, according to Puck. CZ had publicly suggested that he consider selling his $500 million investment in FTT tokens.

READ MORE: Ethereum: Significant Rise in Open Interest – What is Behind the Surge?

SBF and CZ have a long-standing personal rivalry, and Binance had offered to rescue FTX in a $1 billion buyout, which it later backed out of after doing due diligence.

CZ had accused SBF of trying to depeg tether, a stablecoin, but SBF denied the accusation. Hillman also denied on Twitter that the animosity between SBF and CZ caused Binance to back out of the rescue deal or sell its holdings of FTT.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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