Bloomberg Makes A Flash Claim About Binance CEO CZ: Denial From CZ!

According to Bloomberg News’ sources, Binance CEO Changpeng (CZ) Zhao cryptocurrency met with investors in Abu Dhabi last week to raise cash for the industry recovery fund.

Zhao met with potential supporters, including affiliates of UAE National Security Advisor Sheikh Tahnoon Bin Zayed; Details on the size of the fund and the projects to be supported have not yet been decided and it may take several weeks to establish the fund.

A Binance spokesperson told Bloomberg that the meetings focused on global regulatory issues and how Middle Eastern regulators could “lead the world by examining more aggressive Proof of Custody requirements.”

Binance CEO Changpeng Zhao Calls Bloomberg’s Own Sourced News “False”

Zhao responded to a tweeted headline on the Bloomberg report saying it was “false”.

false

— CZ 🔶 Binance (@cz_binance) November 22, 2022

The CEO said last week that Binance has created the industry recovery fund “to help projects that are otherwise strong but are experiencing a liquidity crisis.” It also urged other exchanges to adopt six principles, including avoiding excessive leverage, to maintain confidence in the wake of rival exchange FTX’s collapse.

CZ also made an allusion about Coinbase in his tweet recently. CZ said that the crypto company has 635,000 BTC on behalf of Grayscale, but in the past months, the total Bitcoin amount of the stock market has already been announced as 600,000.

However, CZ, who deleted this tweet after the Coinbase CEO’s statement, used the following statements:

Brian Armstrong said the numbers in the article were wrong. That’s why I deleted the previous post. Let’s work together to increase transparency.

Binance CEO Cz: Brian Armstrong said the numbers in the article were wrong. That’s why I deleted the previous post.

Let’s work together to increase transparency.

— Bitcoin System (@bitcoinsystem) November 22, 2022

*Not investment advice.