"Biggest Fraudster In History" - Changpeng Zhao EXPOSES SBF & The FTX Collapse

**SPEAKER_1** (0:00)
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**SPEAKER_2** (0:30)
If you were 20 years, if the 35-year-old CZ who was working crazy hours those 12, the 12 months that you guys went zero to a billion in profits, if he's the 35-year-old today, in today's market, what industry are you entering? What are you doing? How are you? What software are you using? What technology are you using? What would you get into today?

**Changpeng Zhao** (0:52)
Well, I think for me, I was still getting to the same industry. I think you can't just change every hot industry. You have to do what you do best. You have to do what you're good at, what interests you and what's valuable for others. You got to find the intersection of those three things. And those three things doesn't change overnight.
For a young person, you can learn about blockchain or you can learn about AI. Both are good.
So I wouldn't change what I would do, but I would change the way I would do it a little bit. I would be much more focused, much less distractions. And just with hindsight, right? I would know like, okay, I can be so much more focused instead of getting distracted in a lot of different places, et cetera.

**SPEAKER_2** (1:32)
Got it. So the internet was first, blockchain was second, AI is third. What do you think is going to be fourth?

**Changpeng Zhao** (1:38)
I don't know. That's very hard to predict. Like, for example, before ChatGPT came out, now like AlphaZero, AlphaGo was there, right?
That wasn't a big industry. But then ChatGPT came that was suddenly, okay, all this AI things happening. But before that, you know, Sam may know, but I didn't know. So I have to wait for you to happen to see what's next. And what's next probably going to be another, I don't know, another 10 years away.

**SPEAKER_2** (2:04)
You think the next is going to be another 10 years away?

**Changpeng Zhao** (2:06)
No, I don't know for sure. I'm just saying that roughly, right? I don't know for sure.

**SPEAKER_2** (2:10)
Because at any point we could wake up and something new is, you know, like, wait a minute, what is the quantum, you know, computing and, you know, it's going to take this long to build it. And all of a sudden, what if they do it faster? Could that turn into, so who knows what's going to be taking place?

**Changpeng Zhao** (2:24)
It could happen tomorrow.

**SPEAKER_2** (2:26)
Yeah, true, it could happen. So it's a safer answer to say it could happen tomorrow. But so let's go back to Binance. We're talking about SBF when the conversation came up, Sam Bankman-Fried with FTX.
So at one point, you guys did have a relationship together, right? The two of you.

**Changpeng Zhao** (2:43)
Well, we had we had an investment into FTX.

**SPEAKER_2** (2:46)
So was there ever a relationship or no?

**Changpeng Zhao** (2:49)
No, I wouldn't.
Well, we met each other. We had each other's contact. And but I wouldn't call it a very close relationship. I probably talked to him less than ten times in total.

**SPEAKER_2** (2:59)
Did you guys have a break bread? Just the two of you?

**Changpeng Zhao** (3:03)
We had one meal together.

**SPEAKER_2** (3:04)
Just the two of you?

**Changpeng Zhao** (3:05)
Just the two of us.

**SPEAKER_2** (3:06)
What was that like?

**Changpeng Zhao** (3:07)
This is when he was seeking investment from Binance, right? So and we just chatted. No, we're just trying to get to know each other a little bit better, et cetera. We had one meal together, just the two of us.

**SPEAKER_2** (3:19)
When you walked away, what was the feeling you got from him?

**Changpeng Zhao** (3:22)
The feeling I got was he was very high EQ.

**SPEAKER_2** (3:25)
High EQ?

**Changpeng Zhao** (3:26)
Yeah, he's very...

**SPEAKER_2** (3:26)
Really?

**Changpeng Zhao** (3:27)
Yeah, so he knows what to say to... He knows to... This is the impression I got for him.
He knows what to say, when to say it in front of whom, in what circumstances, he will say the right stuff. He was very respectful to me. He was saying all the right stuff, like we're gonna collaborate, we're gonna build this, we're gonna help to grow the crypto industry, we're gonna solve, we're gonna help the regulatory evolution. He was saying all the right stuff that, yeah.