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Senator Cruz Thinks Binance Is Malicious On FTX


Senator Cruz believes that Binance’s offer to buy FTX was made in bad faith.
Ted Cruz said that the fact that Binance changed its decision very quickly shows that it is malicious.

Senator Cruz: Alarming

Binance’s very quick abandonment of its move to buy FTX, which was experiencing a major crisis, led Cruz to think that the move was made in bad faith:

“All this indicates, to put it mildly, malicious intent, and this situation is alarming. In my opinion, this is definitely a topic worth noting and worth October review.”

Cruz, who made a brief statement at the Texas Blockchain Summit in Austin, said that Sam Bankman-Fried’s testimony before the Senate Judiciary Committee could be quite meaningful.
The House Financial Services Committee announced that a hearing will be held in December regarding the collapse of FTX.

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Senator Cruz expressed that despite the role that Binance played in the collapse of FTX, there are many wrong things that the bankrupt exchange did:

“The reports we have received show that the financial picture has been grossly mismanaged, potential fraud has occurred, and investors are facing billions of dollars in losses.”

The senator said it was too early to talk about the charges.

“If there is a deliberate fraud that harms people – apparently this is the case – then, of course, there should be consequences and responsibility for this”

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