Columbia professor: ‘Unlike FTX…Binance didn’t abscond with user money’

Omid Malekan, an author and adjunct professor at Columbia Business School, said in a Nov. 22 post on X that a key difference between the crypto exchanges FTX and Binance is that Binance did not misuse its customer funds. This statement comes in the wake of recent legal actions against both crypto exchanges. Malekan noted that Sam Bankman-Fried, the founder and former CEO of FTX, was “beloved” by many government officials.