Changpeng Zhao, CEO of cryptocurrency exchange giant Binance, warned investors, saying that more waves of FUD are coming to the market.
Binance CEO: More FUD is coming…
Changpeng Zhao (CZ) of Binance, the world’s largest cryptocurrency exchange, made some recommendations for 2023 to his followers in a post he made on January 3. In this direction, CZ warned its followers against the fear, uncertainty and doubt (FUD) that would occur in the market. CZ, who accepted the advice of a follower to pin it on his Twitter page, stating that this post is important, by saying “good suggestion”, fixed the tweet in question. Changpeng Zhao underlined the following points in this post:
Try to keep 2023 simple. Spend more time on less stuff. Do’s and don’ts.
- Education
- Rapport
- Product and Service
- FUD, fake news, hacks, etc. ignore it.
In the future, I would appreciate it if you could link to this post when I tweet ‘4’.
A follower’s question “What does security fall under?” CZ replied, “The product. There is no insecure product in our industry,” he replied.
Binance CEO continued to refer to his tweet, which we mentioned with ‘4’ in his later posts. In a post on January 10, he recommended that it be ignored, noting that more FUD is on the way for the cryptocurrency market. In this context, CZ shared the following:
More FUD is coming, ignore it!
CZ also pasted 4 in the Forbes report!
By the way, all these posts actually have a background. cryptocoin.comAs you follow, Forbes published a research report on January 9th. In this report, he highlighted that Binance has withdrawn $12 billion worth of cryptocurrencies in the past 60 days. The report also argued that the exchange’s statements regarding its reserves contained inconsistencies.
As you may recall, Binance lost $3 billion in assets in a week in early December. This amount corresponded to 4% of their total assets. During this period, Binance CEO CZ said that the withdrawn amount was not the highest in Binance history. Accordingly, he assured the community that there was no need to worry. However, the Forbes report revealed that the exchange has since lost 15% of its assets. Binance CEO also evaluated the Forbes report as FUD on January 10 and put the ‘4’ mark. In this context, CZ shared the following:
Think they might need an app to control the crypto market. All right, we’ll do 4 and ignore it here.
Meanwhile, some analysts suggest that the upcoming wave of FUD that CZ is talking about is related to allegations that there were times in the past when Binance’s stablecoin, Binance USD (BUSD), was not fully backed by real dollars.
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