American journalist Michael Lewis claims CZ was responsible for FTX’s bankruptcy

On Oct 3, 2023

NEW YORK, NY - DECEMBER 22: FTX founder Sam Bankman-Fried leaves Manhattan Federal Court after his arraignment and bail hearings on December 22, 2022 in New York City. Bankman-Fried, who was indicted on December 9th and arrested 3 days later by Bahamas law enforcement at the request of U.S. prosecutors, consented to extradition to the U.S. where he is facing eight criminal counts of fraud, conspiracy and money-laundering offenses which includes making illegal political contributions. He is potentially facing life in prison if convicted. He was released on $250 million bond with the bail package requiring him to stay with his parents in California. (Photo by David Dee Delgado/Getty Images)

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.

“They had a great real business. If no one had cast aspersions on the business, if there hadn’t been a run on customers deposits, they’d still be making tones of money”

ARE YOU FUCKING KIDDING ME!!!

pic.twitter.com/VmSBvx9y1w
— Sean Tuffy (@SMTuffy) October 2, 2023

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.

Breaking News: United Arab Emirates (UAE) holds $40…

Dec 22, 2024

Elon Musk’s SpaceX uses crypto stablecoins to…

Dec 22, 2024

Bitcoin crashes again below the $96k level, analyst…

Dec 22, 2024

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.