Changpeng Zhao (CZ), CEO of the world’s largest crypto exchange Binance, made statements about the latest situation of the crypto money market and the stock market after the FUD news in the last days.
during the day today CNBCspeaking to CEO CZmade critical statements about the crypto money market and Binance. CZ, which dispersed the dark clouds that started to circulate over Binance with the Reuters news in the past days, the stock market is in good shape and there is no problem in cash flow expressed.
Stating that Binance keeps customer assets in crypto and cash at a ratio of 1:1, CZ said, “We do not feel pressure to any withdrawal requests.” used the phrases. The CEO, who held the reserve bank in New York responsible for the temporarily suspended USDC withdrawals in the past days, stated that the problem was caused by the bank’s conversion channel and working hours.
Referring to the collapse of Sam Bankman-Fried’s FTX, the CEO said, “Being bitten by a snake doesn’t mean other animals are the same.” he stated.
On the other hand, expressing that many companies are worried about making proof of reserves, but they are transparent about it, CZ also denied the allegations against Mazars, the company that deals with the control of its reserves. CZ described Mazars as a “competent company”.
Finally, the CNBC reporter Twitter investment of 500 million dollars Answering the question posed about him, CZ made the following statements:
Binance has revenue. We do not spend these revenues on crazy advertisements. Binance never uses client funds for such work.