Binance founder Changpeng Zhao claims the Department of Justice under former President Joe Biden came after him six months after FTX collapsed, calling the timing “very coincidental” as regulators lost their biggest political donor.
The Timing Was Coincidental
Zhao told the PBD Podcast that FTX collapsed at the end of 2022 after he announced Binance (CRYPTO: BNB) would sell its FTT tokens.
By early 2023, his legal team said the DOJ had a case and wanted to get to a deal.
“The timing is coincidental,” Zhao said. “We got a lot more scrutiny from the US SEC and other US agencies. Of course, you just took away one of their biggest donors. He was the biggest guy giving money to them. You just took that money away,” he added.
Sam Bankman-Fried gave over $100 million in stolen FTX …