Binance CEO Changpeng “CZ” Zhao dismissed concerns his company could recoup $2.1 billion as a result. FTX Bankruptcy Proceedingsin appearance dated Squawk box Thursday morning, and he told CNBC he trusts his attorney to handle the proceedings.
CNBC’s Andrew Ross Sorkin and Becky Quick pressed Zhao on whether he expected to be able to return the $2.1 billion in FTX, which Binance earned when it exited its 2019 Series A investment with FTX, to bankruptcy trustees looking to recover any Of which. Fraudulent transportation Made by FTX for outside companies or investors.
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“Would you be able to handle it if someone asked you to recover $2.1 billion,” CNBC’s Becky Quick asked.
“Financially, we’re doing well,” said Zhao, evading a blunt answer.
If the bankruptcy proceeding can establish that the payment was made through fraudulent proceedings or that the individual should have reasonably known that the payment was fraudulent, then any beneficiary in a two-year review period can have their winnings recovered by the trustee.
Are you ready to send them this money? Sorkin asked Chow.
“I think we’ll leave that to the lawyers. I think our legal team is quite capable of handling it,” Zhao replied before trying to steer clear of FTX’s well-documented spending habits.
Chow told Sorkin that the reimbursement was a combination of BUSDAnd the BNBAnd the FTT symbols. Zhao claimed that the FTT part of the payment was large but that the company “forgot”.
“We have very strong returns,” Zhao said.
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