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Kevin O'Leary, a judge on Shark Tank, recently presented at a Senate hearing and discussed the failure of the FTX cryptocurrency exchange.
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During testimony during the Senate hearing, US Senator Patrick Joseph Toomey Jr. questioned O'Leary about what, in his opinion, caused FTX's downturn.
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In the hearing, O'Leary attacked Binance, claiming that the company "actively put FTX out of business" due to their rivalry with FTX.
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Contextually, after months of worry, uncertainty, and doubt in the cryptocurrency world, the Bankman-Fried controversy has finally reached court.
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The collapse of the FTX exchange has drawn attention to certain celebrities and public figures who advocated FTX, yanking them under investigation and into the fire.
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In his testimony, Kevin O'Leary, a former FTX spokesperson, expressed conflicting opinions about Binance.
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"Binance is a vast, unregulated worldwide monopoly," claims O'Leary. He also stressed how Binance was to blame for FTX's crash.
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O'Leary's assertions would be disputed by many given that FTX failed as a result of improper handling of customer monies.
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For instance, a netizen expressed the opinion that "FTX put FTX out of business." While DAO maker tweeted in response, "a funny way of spelling taking consumers' money."
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For those who were unaware, FTX was one of the major players in the cryptocurrency industry.
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