While testifying at a senate hearing on Dec. 14 regarding the FTX scandal, O’Leary accused Binance of putting FTX out of business to become the global monopoly. O’Leary noted that some of the FTX money went to Binance when Sam Bankman-Fried bought out FTX shares from Binance. 

In response to O’Leary’s accusations, the Binance CEO said he was surprised that O’Leary made these remarks.

“Kevin O’Leary is making a bunch of nonsense claims. They don’t make sense, they don’t make any logic.”

Although Kevin O’Leary’s entire FTX funds are seemingly gone, Zhao said he was not concerned about his or other FTX users’ funds. Furthermore, the Binance CEO doesn’t believe O’Leary invested in FTX without knowing Binance was also a shareholder.