Michael Lewis pointed his fingers toward the Binance CEO in the FTX downfall and claimed FTX was a better crypto exchange with a solid foundation.
FTX exchange was a popular crypto exchange. The crypto trade volume on the exchange was highest, after the Binance exchange. Following a report by the Coindesk media, people came to know of the FTX’s bad financial health, FTX exchange collapsed badly. In mid of Nov 2022, the FTX team filed for bankruptcy under the Chapter 11 code in a US bankruptcy court.
In a recent interview, American author and financial journalist Michael Lewis talked about FTX exchange bankruptcy and said that FTX exchange’s foundation was solid and the exchange would still be generating substantial profits if not faced any bad pressure from other players.
A crypto X (Twitter) user shared a part of this interview and noted the stupidity level of Lewis.
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Indeed Lewis indirectly targeted Binance crypto exchange CEO Changpeng Zhao (CZ), as he decided to sell all the FTX tokens (FTT) to terminate every relationship with FTX forever, just a day before the bankruptcy of the FTX exchange.
Many crypto proponents criticized Lewis for his stupid statement & indirect support for the FTX former CEO Sam Bankman-Fried (SBF).
CryptoLaw firm founder & pro-XRP crypto attorney John Deaton shared his opinion on Lewis’s statement and said that he is a joker as he blames CZ as a responsible person behind the FTX debacle.
Deaton noted that Lewis supported FTX while trying to hide FTX’s backend dark game, which was played by its former CEO SBF.
This
literally blames @cz_binance by saying if no one had cast aspersions on the business causing a bank run FTX would be making money tons of money today. He can’t be that stupid. https://t.co/QxxdGO0kvI
— John E Deaton (@JohnEDeaton1) October 2, 2023
Some people noted that many US congressmen are against CZ, as his move helped to uncover FTX’s real back-end operations and also the high amount donation relationship between SBF & politicians.
Read also: Kenya to crackdown World Coin (WLD) crypto project
American journalist Michael Lewis claims CZ was responsible for FTX’s bankruptcy
https://bitcoinik.com/american-journalist-michael-lewis-claims-cz-was-responsible-for-ftxs-bankruptcy/feed/
https://bitcoinik.com/american-journalist-michael-lewis-claims-cz-was-responsible-for-ftxs-bankruptcy/feed/
