His statement fails to take into account how billions of dollars in customer funds was misappropriated by FTX and transferred to sister crypto hedge fund Alameda Research.
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Kevin O'Leary has caused a backlash after claiming that Binance deliberately caused the collapse of FTX.
The Shark Tank star was speaking at the Senate Banking Committee.
O'Leary was paid $15 million to serve as FTX's spokesperson, and ended up losing all of it after purchasing crypto through the exchange.
His statement fails to take into account how billions of dollars in customer funds was misappropriated by FTX and transferred to sister crypto hedge fund Alameda Research.
Binance's CEO, Changpeng Zhao, addressed these allegations by retweeting an old thread that slammed O'Leary for making "baseless attacks."
At the time, CZ criticized FTX for its "reprehensible misuse of customer funds" — and said that, as an early investor, Binance was "increasingly uncomfortable" with Alameda Research and moved to exit the investment over 18 months ago.
He claimed SBF had "invested" in friends in high places — policymakers and celebrities among them — and "used that network to manipulate public opinion, including attacking me and others in the industry." CZ added:
"If Kevin O'Leary is looking for someone to blame for the implosion of FTX, he should start by wagging his finger at his investment partner Sam, and then perhaps at the man in the mirror."
Binance is the parent company of CoinMarketCap.
