After the news that the US House of Representatives wanted to clarify the role of Binance in the fall of FTX, recently Senator Ted Cruz said Binance showed more or less “bad intentions” in the “public acquisition” step FTX”, and then quickly withdrew the offer in less than 2 days.
Noticing the speed of Binance's bid to "snatch" its struggling rival, once seen by the public as a "spectacular victory" on the side of CZ, Senator Tez Cruz expressed concern and put many orders. Doubts surrounding this action:
“All of this shows that the engine is not quite as good. And it's worrisome. I think this is worth investigating further.”
However, after receiving hearing requests from various regulatory agencies, Binance stated that it is still unable to provide detailed information about FTX, and CZ is not happy when his every move is being. "dissecting" in the legal aspect. He declined to participate in the hearings, but will instead answer questions from the community on a predetermined schedule.
CZ says he won't send a representative to a House hearing about FTX and the general digital asset ecosystem announced for next month. pic.twitter.com/OGRtFMIbpKNovember 17, 2022
The CEO of Binance has also often posted statements that "feel unfair" when Binance is legally targeted while the person at fault is FTX.
If an exchange holds users assets as is, no amount of other people's tweets will cause problems. Simple.November 18, 2022
“If the exchange holds enough user assets, no matter how much people tweet, it won't be a problem. Simple as that."
If you follow the timeline of Binance's bailout / buyback activities, then FTX is not the first name that Binance has "cancelled" so bitterly. Before that, there was WazirX, although in 2021 the Binance blog had an announcement about the acquisition of WazirX, the CEO of Binance still sparked controversy when he claimed "never bought WazirX", or Axie Infinity reduced the "rescue" in the funding round of 150 million USD after the incident hack Robinhood.