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‘Cascading contagion’ fears grip crypto as FTX founder is accused of lies

The founder of collapsed cryptocurrency exchange FTX has been accused of lying to customers amid fears the fallout from its bankruptcy could spread through “cascading contagion”.

Changpeng “CZ” Zhao, founder of the world’s largest cryptocurrency exchange, Binance, claimed his arch-rival, Sam Bankman-Fried, misled clients and investors as FTX spiralled out of control.

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