We want to be transparent. We want to set the golden standard for reliability solidness in the space. So would you be able to handle it if somebody asked you for 2.1 billion dollars back? Would that be okay? Would you be able to still withstand things we're financially okay, including you have 2.1 billion dollars to give away. If somebody came to recla to Claude that back, you'd still be fine.

We'll let the lawyers handle it. I Find we are financially strong CNBC Just absolutely destroyed CZ from a Binance. If you still had any trust left for CZ, it should be gone. After this interview, it is so evasive and disgusting.

And it follows a Bloomberg article from November where we were told that individuals who have tried to sue Binance.com have found that it's almost impossible to sue them because the Binance platform is not owned by any company or other legal entity. it's owned by a Litany of companies and it's potentially just all owned by CZ. But nobody knows how to actually even sue the right company or organization because it's so arcanely orchestrated. So it's no surprise that his company has operated out of the Cayman Islands and that Bloomberg here suggests that maybe he's avoiding even visiting the United States because if he shows up to the United States He fears he might be arrested or a quote like this, there are other signs of Cz's pivot to Convention Reality might not be entirely urgent.

The day of the interview CZ said a reporter could visit the new Dubai office they had, but after a flurry of emails, calls, and texts during which assistants and PR Consultants made an array of excuses, a Binance representative said that oh, in fact, the office was closed because of a surge of covet cases which the reporters found odd because CZ had made no reference to the disease during the interview nor had anyone else at the company mentioned that Covid was an issue. Yet the previous day, Binance arranged a separate interview with the company's head of Middle Eastern operations, who showed up unmasked at a crowded hotel lobby where he appeared to be conducting in-person meetings in the lobby rather than at any of their offices. But forget Bloomberg maybe Bloomberg's wrong. Let's just hear directly from the man himself this 2.1 billion dollars that Becky Quick asks for is a reference to 2.1 billion dollars that they were received potentially from FTX obviously now bankrupt crypto exchange thanks to the blatant fraud of Sam Bankman freed running out of liquidity at his trading firm Alameda research and then deciding to use customer assets instead.

So obviously when CZ says yeah, we got 2.1 billion dollars from FTX but we're not exactly sure where that money is now or we kind of forgot about it wasn't really important to us. even after Ftt price dropped over the last year, we still had 500 million dollars worth of it. Uh, 580 million dollars worth of it On the day when we transferred from the address we received it a year and a half ago, we never touched it. We actually actually kind of forgot about it.

It kind of makes you wonder if FTX had terrible accounting practices. Why doesn't CZ know where the money is and do they actually have that money? After all they retweet on Twitter that Oh, don't worry, look, we have like 60 billion dollars in cold wallets. Well, why then or total debts listed as N A. And why are you defining net worth as the same thing as an asset.

Net worth which is equity equals assets minus debts. But if you're refusing to reveal the debts, then this is in. This is a totally blatant misdirection. Now you might be thinking but, Kevin maybe they don't have any debts.

Ah, but that's not actually what CZ says. But thus far you haven't disclosed your liabilities and I wonder why that is and whether you will. Yeah, so we are working with other firms to do the, uh, audit financials like liabilities. Etc Okay, so you have liabilities.

You just don't want to tell us what those liabilities are. Now what could possibly help us reveal what kind of assets and liabilities they actually have? How about an audit? What does CZ have to say about an audit? but artists don't reveal every problem about it or would reveal that. CeCe If you could get a big four auditor to say that if you're saying that some of them don't want to work with you, that raises questions too. They don't want to work with you because you don't have the files and the data that would make them feel comfortable signing off and and giving that stamp of approval.

Actually, many of them don't even know how to audit crypto exchanges. Um, they don't. They don't. They don't really when they.

So when they audit, they are. They're very used to auditing a firm. Just take a moment here to appreciate Becky Quick's reaction and then we'll keep going. Any of them don't even know how to audit crypto exchanges.

Um, they don't. They don't. They don't really when they. So now if only there were another crypto exchange that was publicly listed on the NASDAQ and regulated by the SEC requiring audits.

Which would mean there was an auditing company that was probably a big four auditing a company you know, like a Deloitte that that existed. If only there was such a company that existed. Coinbase says Coinbase has a big four auditor. Um, I Actually I I Don't look at Coinbase.

We don't really look at it. So though I don't know, they understand it well enough. is the auditor? Yeah, Coinbase. so they can figure.

They do have so much experience. So I want you to put together the Web of Lies that we just saw now I believe to be Web of Lies Okay, I I can't know with certainty. Nobody really can. Which is actually the scary part If you have your money at Binance, right, you want certainty.

But let's try to put the web together here. So CZ says that if they had a 2.1 billion dollar clawback because of their investment from FTX which means FTX had 2.1 bill because they were a fraud, there's a risk that the money they sent to CZ could be clawed back. His response is not. Yes, we could handle a 2.1 billion dollar clawback.

It's the following: Would you be able to handle it if somebody asked you for 2.1 billion billion dollars back? Would that be okay? Would you be able to still withstand things? We're financially okay, including you have 2.1 billion dollars to give away. If somebody came to Recla to claw that back, you'd still be fine. Well, we'll have a lawyer handling I find we are financially strong. She's no surprise because he kind of forgot about that money.

Anyway, we actually actually kind of forgot about it. But wait a minute. Kevin CZ says they don't owe anybody money. They don't owe any person money.

We all run crypto changes should hold user assets one to one. Very simply, Binance does not owe people money. Venice does not have loans from other companies from other funds, just we just don't have it. You can ask any Fund In this in the in the ecosystem, you can ask any VC We actually do also do not have VC Investments so we don't owe anybody any money.

and uh, we also do not have loans to other people that we depend on for our next payroll. So you don't have loans to pay your next payroll. Why are you even making that example? Anyway, at least it sounds good, right? So that sounds good. You could have assets backed one to one, but remember, you could loophole that pretty easily because if you have one Bitcoin in your account for one Bitcoin you owe to a customer.

Sure, that's one to one, but if you've now taken that and leveraged it, then you would have a large liability. or maybe you're using derivatives like options to trade with that to try to make more money In the background now. CZ here says they don't owe anyone money. but how does that reconcile with the following that he says.

So we are working with other firms to do the uh, audit financials like liabilities Etc So you don't owe any body money, but you have to do liabilities catch up and you're working with Auditors to do that. liabilities catch up. but Auditors don't know what they're doing even though a big four like Deloitte has an auditor that's able to audit their blockchains and their Enterprise But for some reason, those companies don't want to work with you. It definitely led to the disclosure that there had been money that was taken, but that disclosure raises lots of questions about firms like yours.

Have you, done the same? Has there ever been co-mingled funds? Have you ever taken any of the clients funds and done anything with them? and again, why should we believe you? Because Sam Bankman Freed told everybody no that hasn't happened and he tweeted a lot of the same stuff that you've been tweeting in recent days which I think gets back to this idea of show me the money. Yep, so let's get back to show me the money part. So Calvin omitted the fact that there's no records. That's not a problem to him.

Totally dodged the question about whether or not they use customer money just starts talking about someone else. Classic look I Think there's just a very simple way to sum this all up and we'll use the words of CZ himself to describe him. I think he's lying about about a bunch of stuff.