When asked about why FTX failed, O’Leary channeled all the blame on CZ Binance, claiming that the Binance exchange is unregulated.

“Does this man have no shame? Against the entire weight of an absurdly massive amount of evidence, he blames the FTX collapse on Binance,” David Schwartz, the CTO at Ripple and the co-creator of the XRP Ledger wrote. “Let me just say that If Binance had anything to do with FTX collapsing, they were doing a public service because the sooner this growing cancer — a fraud from day one – gets stopped the better for all of us,” he added.