Cryptocurrency

Binance CEO CZ lashes out at Chinese media, The Block for spreading FUD

Binance CEO Zhao Changpeng (CZ) posted a thread on his Twitter account, lashing out at a major Chinese news site. 163 For spreading FUD by publishing fake news on Binance.

The CEO also reminded the crowd that global cryptocurrency news site The Block also spread FUD on Binance three years ago by posting an article with a misleading title.

CZ came Beyond Fake News from 163 at 8:40 UTC on August 18th. 5 hours later he thread He also lashed out at both blocks after 163 to spread FUD and show how the BNB price has reacted. I also mentioned that I still roam the internet.

163 fake news

According to his thread, news source 163 wrote:

โ€œBinance founder Changpeng Zhao was arrested in his mansion during an FBI investigation, and BNB and BUSD rooms were discovered in the mansionโ€™s basement.โ€

CZ said the ridiculous reference to “a room full of BNB” should indicate the news is fake. However, it still spread rapidly on the internet and in social media groups.

BNBUSD chart (via tradingview.com)

As soon as the fake news spread, the price of BNB fell by almost 3% from $310 to $301. An hour after the drop, the price started to rebound. At the time of writing, BNB is trading at $303,4.

CZ closed the thread by stating that global crypto news outlet The Block also spread FUD three years ago when the price of BNB fell from $24 to $18, losing about $400 million from its market cap. Wrapped up.

CZ did not disclose details of The Block’s article, but said the title spread the FUD by saying police “raided” Binance’s office. According to CZ, the article also went viral, and The Block only corrected the title to “Visits to Authorities” three days later, according to CZ.

binance

The coldest winter in cryptocurrency history has given many exchange giants a hard time. However, judging by the news, Binance seems immune to winter conditions.

A recent report by crypto slate Binance Bitcoin holdings began surging in May 2022, showing over 623,000 Bitcoins.

The exchange is also continuing to invest and hire new employees as market conditions look good. According to CZ, Binance can also buy exchanges that are in financial trouble due to winter conditions.

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