Kevin O'Leary hit back at Changpeng Zhao, calling him a "liar" after he called O'Leary's claims "nonsense" in an interview.
The Senate Banking Committee heard testimony from O'Leary about the aftermath of FTX. The downfall of the exchange was caused by the sale of its 20% stake in the firm to Sam Bankman- Fried in late 2021, according to O'Leary.
That blew a major hole in FTX's balance sheet, and was the beginning of the problem that led to the collapse of the exchange.
In an interview with CNBC on Thursday, the CEO of Binance said that O'Leary's claims do not make sense. The two had a "special relationship" and O'Leary was speaking to Bankman-Fried up to the point of his arrest.
The man called me a liar. It's possible that I lied to the US Senate for two hours this week. "I can assure you that's not the case," O'Leary told CNBC.
He said he lost $10 million because of FTX's implosion and that he wouldn't give data that would clear FTX for a license and force Bankman- Fried to buy out its stake.
Why did Sam Bankman-Fried and the entire company FTX have to file for Chapter 11? It was jamming down that last half a billion that gave them no choice. Are you trying to get rid of your global competitor? "Yes."
As FTX sorts out its finances, the rival exchange has been under scrutiny, as FTX sought an acquisition from Binance last month. The exchange briefly paused withdrawals as customers rushed to withdraw their money, but the exchange assured investors their deposits are fully backed.
He said he received a text from a lobbyist in Washington asking him to stay in the area.
I think he bought himself an invite to Washington. I can't wait to see him there. We are able to go sightseeing.
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