"In fact, Zoom did not provide end-to-end encryption for any Zoom Meeting that was conducted outside of Zoom's 'Connecter' product (which are hosted on a customer's own servers), because Zoom's servers—including some located in China—maintain the cryptographic keys that would allow Zoom to access the content of its customers' Zoom Meetings," the FTC complaint said.
https://arstechnica.com/tech-policy/2020/11/zoom-lied-to-users-about-end-to-end-encryption-for-years-ftc-says
Bloom said : If Zoom could lie about it for four more years and face these consequences a second time, they absolutely would. This encourages deception and lying from corporations.
https://arstechnica.com/tech-policy/2020/11/zoom-lied-to-users-about-end-to-end-encryption-for-years-ftc-says