Cryptocurrency

CZ alleges FTX paid $43M to news organization to publish Binance FUD

Binance CEO Changpeng (CZ) Zhao claimed in a Space Talk on Twitter that FTX paid $43 million to a crypto news outlet that regularly publishes negative articles about Binance.

CZ argued that traders with short positions are trying to “generate negative news” to improve their trading. So when crypto skeptics like Peter Schiff criticize the industry for “not understanding, not understanding,” he has “no problem.”

However, he admitted to taking heed of the negative press reports allegedly funded by FTX.

“I don’t think it will stop, but I don’t think it will bother me as much in the future.”

The Binance CEO has praised the ability of people to “judge for themselves”, saying, “People today are very smart…most people are no longer fooled by clickbait titles.”

In response to another audience question about AI, CZ argued that Binance uses technology in many parts of its business. It is handled by AI, along with surveillance, fraud detection, and market manipulation detection.

CZ also believes AI technology will be further implemented within the blockchain space in relation to analyzing data and detecting material changes in risk.

“As machine learning becomes more mature and more powerful, more and more applications will emerge.”

Risk management was a key factor in the failure of many cryptocurrency exchanges and lending services throughout 2022. Therefore, the ability of AI to alleviate the difficulty of risk management within complex on-chain environments could be of great importance for future blockchain projects.

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