In an appearance on CNBC Thursday morning, Changpeng "CZ" Zhao said that he trusted his lawyers to handle the FTX proceedings and that there was no chance of his company being clawed back.
Zhao was asked if he expected to be able to return the $2.1 billion payment from FTX to the bankruptcy trustees.
He was asked if he would be able to handle it if someone asked him for money.
Zhao was evasive when asked if they were financially okay.
Any beneficiary in a two-year lookback window can have their gains clawed back by the Trustee if it is established that a payment was fraudulent.
Is it possible to send that money to them? Sorkin asked the person what they wanted to do.
We will leave that to the lawyers. I think our legal team is well-equipped to handle it, I think.
According to Sorkin, the repayment was a combination of BUSD, BNB, and FTT. The company forgot about the part of the repayment that was significant.
We have a lot of revenue.
All Rights Reserved © 2024
