The FTX Saga created a media struggle between CZ (CEO of Binance) And Kevin O’Leary, or Calvin, as CZ likes to name him. In entrance of Congress, O’Leary disregarded the commingling of funds, the misuse of funds, the dearth of a CFO, the dearth of any company governance, the in-house whistleblower and the dearth of any accounting system, all of which have been confirmed by appearing CEO of FTX John J. Ray III, as causes to why FTX collapsed. As a substitute, O’Leary testified that CZ was the principle motive for the collapse. After his testimony, O’Leary did the media rounds, doubling down that CZ was hiding one thing and demanding the $2.1 Billion that allegedly disappeared. CZ additionally did the media rounds, calling “Calvin” a liar, mentioning the missteps and conflicts in his story and suggesting that O’Leary is disingenuous and solely apprehensive about simply his funds and never the remainder of the customers of FTX. Hedgefund Investor Mark Yusko shared his ideas on the state of affairs. And believes each CZ and O’Leary are simply actors in a well-orchestrated plot to carry down crypto from the powers-that-be. In an interview with Blockworks, Yusko stayed agency on his perception that this FTX collapse is larger than only a fraudulent, mismanaged firm, however that the powers-that-be are purposely attempting to govern the crypto market. And SBF and Caroline Ellison are simply puppets. And now CZ and O’Leary are actors right here to distract from what’s actually happening.
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