Sam Bankman-Fried calls Changpeng Zhao’s allegations “lies” as aggression mounts!

Following Binance CEO Changpeng Zhao’s comments about Sam Bankman-Fried’s management style of FTX, Bankman-Fried responded aggressively. Previously, Changpeng Zhao had strongly criticized Kevin O’Leary for defending Sam Bankman-Fried in a recent interview.

Claiming that FTX was involved in misappropriating client funds, he mentioned that Binance pulled out of FTX’s investments about 1.5 years ago. CZ stated that SBF was threatening to make extraordinary efforts for Binance’s withdrawal from his company.

Sam Bankman-Fried: No need to lie

You threatened to walk at the last minute if we didn’t kick in an extra ~$75m.

We did it anyway because this just made us feel more confident we didn’t want Binance on our cap table.

But again, none of this is necessary. You won. Why are you lying about this now?

– SBF (@SBF_FTX) December 9, 2022

In its reaction to Changpeng Zhao’s claims, SBF said the Binance CEO was lying about the status of the buyout. He tweeted saying there was no need for CZ to lie about it now. SBF claimed that Changpeng Zhao threatened to pull out of the deal at the last minute with conditions. With these actions, the FTX team was more confident that they did not want Binance on their investor list. Interestingly, SBF mentioned “You won,” in reference to the Binance CEO.

“You won, CZ. There’s no need to lie now about the buyout. You threatened to walk away at the last minute if we didn’t give another $75 million.”

Reacting to the turn of events, Changpeng Zhao stated that “no one won“, claiming that the whole situation was not a competition.

Sam, not that it matters now. You also can’t force us to sell if we don’t want to. Also, we have the veto right to block any further fundraising you were doing. Never used or mentioned it. It was never a competition or fight. No one won. 1/2

– CZ 🔶 Binance (@cz_binance) December 9, 2022

Meanwhile, Sam Bankman-Fried has expressed his willingness to testify before the U.S. House of Representatives Financial Services Committee next week. Although he had previously stated that he was unlikely to appear for the December 13 testimony, he has now stated that he will testify despite the factual and informational limitations. In other news, Terra co-founder Do Kwon blamed Sam Bankman-Fried and Genesis for the Terra-LUNA crisis.