Binance CEO Changpeng Zhao (CZ) explained why Binance was fud on Twitter.
After the crypto exchange FTX went bankrupt, a lot of fud was spread about rival exchange Binance. The two powerful exchanges of the crypto industry were in fierce competition. The elimination of FTX made eyes on Binance side. Binance’s moves in the collapse of FTX, Binance’s situation in the proof of reserve system and Binance’s situation in legal processes created a busy agenda. After all these processes, Binance CEO CZ made statements about the fud made to the stock market. CZ addressed why they were targeted via Twitter.
CZ Addresses Fud on Binance via Twitter
Binance CEO Changpeng Zhao (CZ) touched on the increasing number of Binance fuds recently. CZ mainly put forward relations of interest.
https://twitter.com/cz_binance/status/1606435376163323904
Making a point-by-point statement, CZ claimed that some people who fud hate centralization. According to CZ, Binance, the largest centralized exchange, has been targeted by such people. However, the CEO of the company stated that he understands everyone’s voice and that such fuds are normal.
CZ stated that people who lost money could also blame Binance and attack the stock market. According to the Binance CEO, there is no right or wrong to this situation. Fud is made with more financial loss.
CZ: Media Organizations Can Attack Us Too
Binance CEO Changpeng Zhao (CZ) stated that cryptocurrencies are still at the 5 percent level in mass adoption. This rate causes people to be skeptical of cryptocurrencies. CZ claimed that in this case, the views of the traditional media side are at the forefront.
According to CZ, media channels can spread Binance fud to eliminate competition or be bought by someone else.
On the other hand, CZ also touched upon the views on politics and racism. CZ underlined that a racist approach can be made against Chinese-looking Canadians. However, Binance CEO stated that he does not care about such racist attacks. In the policy part, he also stated that the conservative side can spread fud. This was considered quite normal by CZ.
Referring to the blockchain progress of banks, CZ said, “I think the best way to keep banks safe from disruption is to let them adopt blockchain technologies as early as possible. Again, I could be wrong here.” said.
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