CZ Defends Binance From Recent Accusations

Binance CEO Changpeng Zhao (CZ) joined Andrew Sorkin for a round of questions on CNBC’s Squawk Box on Dec. 15, calling Kevin O’Leary “a liar” and explaining how Binance seeks to set the golden standard for transparency.

Sorkin focused mostly on the price action and FUD surrounding Binance’s Proof of Reserves announcements however he couldn’t help himself from bringing up O’Leary’s comments from the day before. O’Leary, known as Mr. Wonderful, told the U.S. Senate Banking Committee on Dec. 14 that he believes Binance and CZ purposefully caused the recent FTX collapse to become a monopoly.

CZ defended his company against ill-informed opinions from O’Leary.

“Kevin O’Leary is making a bunch of nonsense claims. They don’t make sense, they don’t make any logic,” CZ told Sorkin. “He shouldn’t be making those claims as a celebrity ambassador.”

Sorkin pressed CZ about O’Leary’s accusations, questioning whether Binance would be prepared to send back any funds entangled in the FTX fiasco. CZ told him it would be up to the lawyers.

O’Leary and the Binance CEO have been in a public row as of late. Mr. Wonderful has called Binance’s actions into question multiple times, and CZ seems intent on protecting Binance’s reputation from the paid charlatan.

See the full exchange below.

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