The debate between Changpeng Zhao and Kevin O’Leary over their purported roles in the failure of the FTX cryptocurrency exchange has been passionate.
O’Leary testified at a Congressional hearing on December 14, asserting that Binance had intentionally put FTX out of business and that FTX had used off-balance sheet funds in the amount of $2-3 billion to purchase FTX stock from Binance in a bid to stave off its folding.
CZ denied these claims and has accused O’Leary of lying and making “nonsense statements.”
This exchange has caused concern that individuals who received funds from FTX may be subject to legal action or Madoff Clawbacks.
