Changpeng Zhao (CZ), CEO of Binance, the world’s largest cryptocurrency exchange, made harsh statements about Forbes FUD.
The article recently published by Forbes was harshly criticized by CZ, stating that it was full of FUD allegations about Binance. criticized. Himself Expressing his disappointment, the CEO said, Forbes by not understanding how a stock market basically works accused him and stated that the article in question ignored the deposit transactions:
Forbes doesn’t seem to understand the basics of how a stock market works. Our users are free to withdraw their assets at any time. Our users also need to deposit with Binance before they can withdraw funds, which can be easily tracked on the blockchain. The article publicly ignores deposit transactions.
They try to equate us with FTX
Another point that CZ made a strong exit is the crypto money exchange that went bankrupt both in the title of the article and in the content details. FTX There was an eclipse of Binance with. of Forbes continue to write unfounded articles and the loss of credibility that you disappointed Expressing that, CZ detailed his statement with the following statements:
Forbes wrote another FUD article with many incriminating questions, negative spins, deliberately misinterpreting the facts. They referred to some old blockchain transactions made by our clients. Forbes tries to categorize Binance and FTX together, including the article title selection.
In the continuation of the CZ statement, Forbes “There was a large amount of outflow of funds” He also used expressions that mock his FUD. Emphasizing that Binance met the billion-dollar user withdrawal request in December without any problems, CZ said, “I was hanging out with my friends in Dubai at the time” placed the sentence.
At the end of his statement, the CEO stated that Binance had learned from its past mistakes, so that it would not be repeated in the future. Ethereum (ETH) co-founder Vitalic Buterine a more transparent and sustainable system offered by zero knowledge (ZK) reminded that the technology was put into practice:
Using a new zero-knowledge (ZK) approach (recommended by Vitalik), we have deployed proof-of-reserve protecting the security and privacy of our users. Binance always stores user funds in a 1:1 collateralized manner.