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On Wednesday, Kevin O'Leary testified before Congress that Binance's CEO Changpeng Zhao intentionally caused the collapse at FTX.com in the Bahamas.
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He said, "I have an opinion and not the records."
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"[FTX] and Binance were at war, and one put out the other intentionally."
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"Now, maybe that's okay; maybe there is nothing wrong with love and war. Binance is now a global, massive, unregulated monopoly.
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O'Leary's remarks were made during a hearing of the Senate Committee on Banking, Housing and Urban Affairs entitled: "Crypto Crash": "Why the FTX Bubble Burst and Harm to Consumers".
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Television star who invested in FTX has stated that he was paid US$ 15 million to be a spokesperson.
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Zhao tweeted in November that Binance was selling its FTT position. This native token of FTX was a move that led to FTX's collapse and a run on the currency.
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O'Leary used to advocate for more regulation in the industry. "We must get to the bottom of what happened at FTX. But we can't allow its collapse to cause us to lose the great promise of crypto."
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Bankman-Fried was asked to testify at this hearing but was instead taken into custody by Bahamian authorities on Monday at the request of the U.S. Government.
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