"Biggest Fraudster In History" - Changpeng Zhao EXPOSES SBF & The FTX Collapse

When asked about what industry he would enter today if he were 35, the speaker indicated he would stick with the same industry, emphasizing the importance of doing what you do best, what interests you, and what is valuable to others. He believes these core principles don't change overnight. While acknowledging the potential of both blockchain and AI for young people, he stated he would approach things differently, with greater focus and fewer distractions, leveraging hindsight. Regarding future technological advancements, the speaker found it difficult to predict what would follow the internet, blockchain, and AI. He highlighted that major shifts like ChatGPT often emerge unexpectedly, and the next big thing could be another decade away, or even happen tomorrow, making predictions uncertain. The conversation then shifted to FTX and Sam Bankman-Fried (SBF). The speaker confirmed that Binance had invested in FTX. He clarified that while they had met and had each other's contact, it wasn't a close relationship, estimating he spoke to SBF fewer than ten times. They had one meal together when SBF was seeking investment from Binance. When asked about his impression of SBF after that meal, the speaker described him as having very high emotional intelligence (EQ). He felt SBF knew what to say, when to say it, to whom, and in what circumstances, always presenting himself respectfully and speaking about collaboration, growth of the crypto industry, and aiding regulatory evolution. Despite this initial impression, Binance declined the investment in summer 2019. SBF returned in November with an improved offer to their CFO, leading to Binance's investment. The speaker explained that SBF was already a large, VIP trader on Binance at the time, and his proposal to build FTX and seek investment led to the meeting. Binance initially invested a few million dollars, not $2 billion. They exited the deal later, receiving close to $2 billion, part of which was in FTT tokens that subsequently went to zero. The speaker clarified that there is no ongoing litigation between Binance and FTX. He also addressed past accusations regarding his tweet's role in FTX's collapse. He stated that his lawyers advised him not to discuss ongoing litigations. When confronted with a Fortune article quoting his tweet calling SBF "one of the greatest fraudsters in history" and a "master manipulator," the speaker initially didn't recall using such strong language. However, upon reviewing the full tweet thread from November 2022, he acknowledged that he did use those words. He explained the context: the tweet was a response to "wrong narratives" circulating, including claims that he wanted to be crypto's savior, that FTX was killed by external factors, or that SBF had good intentions. He refuted these, stating FTX killed itself by stealing user funds and that lying isn't good intentions. He also argued that a tweet cannot destroy a healthy business. He detailed the sequence of events: a CoinDesk report, Binance's internal decision to sell their FTT tokens, his tweet announcing the sale for transparency, and the subsequent blame placed on him for FTT's downfall. He maintained that while his voice carries weight and the tweet might have had some market impact, a truly healthy business wouldn't be destroyed by a single tweet. Finally, when asked about political donations, the speaker confirmed that he, as a non-US citizen, could not make political donations. He also denied any instances of anyone from the Biden administration or other political entities asking him or Binance for donations.