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BlockTower Capital CEO Ari Paul, in his statements about former Binance CEO Changpeng Zhao (CZ), claimed that CZ committed the same crime as former FTX CEO Sam Bankman-Fried (SBF) and criticized the difference in legal treatment of these two names. According to Paul, CZ committed crimes that violated the interests of individual investors just like SBF, but CZ got away with a lighter sentence.
Ari Paul accused CZ of using client funds for risky investments, deceiving individual investors, and facilitating money laundering for criminal organizations. Paul also claimed that the US government was trying to access critical documents as part of its investigations into Binance, and that these documents could reveal further abuse.
These statements came in response to CryptoQuant CEO Ki Young Ju’s defense of CZ. Paul deepened his criticism of CZ, saying, “If the federal government so desires, CZ could be sentenced to life in prison.”
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Ki Young Ju, who opposed Paul’s accusations, stated that the US Department of Justice had accused CZ of aiding money laundering, not embezzling client funds, and that these accusations were not based on strong evidence. Ki Young Ju, who argued that the allegations based on the Reuters report were insufficient, emphasized that CZ had not received any legal conviction.
While Paul’s statements received widespread attention, some critics argued that it was illogical for a billionaire businessman like CZ to risk his empire to steal $30 billion. They also pointed out that since CZ also has clients in the UAE, he would also be subject to legal scrutiny there in the event of any corruption.
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