The head of the world’s largest crypto exchange Binance, Zhangpeng Zhao, who helped expose the insolvency of Sam Bankman-Fried and his company FTX, called him “one of the greatest fraudsters in history” and accused the media and of manipulation, Yahoo writes.

Zhao believes that Bankman-Fried is simply trying to avoid jail time, having said in several recent highly publicized interviews that FTX’s failure was simply the result of bad luck and outside attacks.

“No healthy business can be destroyed by one tweet,” Zhao wrote.

In his opinion, the media gave a false impression of Bankman-Fried as a “well-intentioned” person who “just made a few mistakes,” since “lies are never well-intentioned.”

And while Bankman-Fried himself has not yet been indicted in the U.S., some experts say it may only be a matter of time.

According to an expert, Thomas P. Vardanian, executive director of the nonprofit Center for Financial Technology and Cybersecurity, which has represented parties in 30 of the 50 largest financial institution bankruptcies in U.S. history, the FTX bankruptcy documents appear to be “pretty devastating” for Bankman-Fried.

– Materials from Yahoo were used in preparation