FTX could be paid $43,000,000 for publishing negative articles about Binance

Changpeng Zhao, CEO of the world's largest cryptocurrency platform Binance, has revealed that FTX's top management used dishonest methods to compete with the Hong Kong exchange.

According to Zhao, FTX paid a well-known news outlet $43,000,000, asking them to host material that would cast a negative light on the Binance exchange. He did not say which publication received the bribe from FTX, but spoke about serious competition at that time. Binance did face some difficulties, and therefore the materials had a strong effect.

Changpeng Zhao also said that this is not an isolated case and he is sure that various influential people can engage in such speculation and generate various news in order to get a good profit. Binance has a negative attitude towards publications that launched a campaign with the placement of materials that expose the cryptocurrency platform in a negative light. However, Zhao is confident that news publications will not be able to prevent his company from developing properly, although he expects such behavior from the media later.

Changpeng also noted that amid recent high-profile events, cryptocurrency investors are becoming increasingly resilient to negative emotions that can help them make important decisions. This means that the activities of such media outlets, which spread negative information about stock exchanges, may influence market sentiment much less in the future.

Previously, well-known TV presenter Jim Cramer said that Bitcoin investors urgently need to get rid of their assets before BTC falls. The Binance owner ridiculed this recommendation, and the situation itself is reminiscent of what Changpeng Zhao is talking about. Cryptocurrency whales can use the media to try to influence the mood of the public and set the direction of the market.

We also recall that when in October last year, FTX faced the problem of low liquidity and financial insolvency, Binance wanted to absorb the American cryptocurrency exchange. Subsequently, for several reasons, such a possible course of events did not find further development, and it was at the suggestion of Changpeng Zhao that the FTT rate fell by 95%. Zhao said that Binance is getting rid of all FTX tokens, which was followed by other cryptocurrency investors. As a result, in a few days, FTT fell from $25 to $3, and later other interesting facts about the FTX exchange began to be revealed.