Ripple CTO Slams “Shark Tank” Star Over Stance on FTX

Dec 16,2022
Ripple CTO Slams “Shark Tank” Star Over Stance on FTX

In a recent tweet, David Schwartz, Ripple's technical director, pointed the fuse to Kevin O'Leary, an Australian businessman. The latter seems to attribute the collapse of key competitor FTX to Binance, the largest cryptocurrency exchange

On Wednesday, on the hearing system held by the Federation of Financial Institutions of the House of Lords, O'Leary declared that there was a war between Bins and FTX, "one side let the other close down". The famous star of "Jaws Heavy Tank" then expressed that Bins did it "intentionally"

With the collapse of its core competitors, Binance has now become a "large-scale monopoly that will not be regulated worldwide". He added: "They let FTX go bankrupt."

Schwartz indicated that O'Leary clearly proposed this kind of advocacy under the condition of "resisting many absurd evidences and all net weights"

The collapse of FTX came after Zhao Changpeng, CEO of Binance, announced that Binance had determined to settle its FTT (local token of FTX). At that time, the public had doubts about the capital adequacy ratio of the trading platform

After failing to reach the acquisition agreement with Binance, FTX declared bankruptcy on November 11

Earlier this week, after the foreign federal prosecutor announced that Samuel Bankman, the founder of Weiyuan, had committed fraud, the Bahamas government arrested him

Recently, Schwartz felt that the collapse of this data encryption giant was due to its failure to control risks while using customer funds.