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CZ refutes rumors that Binance sold BTC and BNB
Binance CEO Changpeng Zhao (CZ) has refuted rumors on Twitter that his crypto exchange has sold its crypto holdings, including BTC and BNB. There was a lot of speculation on social media. Some claimed the company was involved in significant sales of digital assets. However, Zhao debunked the rumors and said Binance has not sold any BTC or BNB and still has a bag of FTT tokens. CZ calls rumor “FUD” The Binance boss also expressed surprise that some people were able to infer which individual or community is selling cryptocurrencies based solely on a price chart involving millions of traders...
CZ refutes rumors that Binance sold BTC and BNB
Binance CEO Changpeng Zhao (CZ) has refuted rumors on Twitter that his crypto exchange has sold its crypto holdings, including BTC and BNB.
There was a lot of speculation on social media. Some claimed the company was involved in significant sales of digital assets. However, Zhao debunked the rumors and said Binance has not sold any BTC or BNB and still has a bag of FTT tokens.
CZ calls rumor “FUD”
The Binance boss also expressed surprise that some people were able to infer which individual or community had sold cryptocurrencies based solely on a price chart involving millions of traders. He also referred to the rumors as “FUD,” suggesting that they were unfounded attempts to create negative sentiment around Binance.
4. Binance has not sold BTC or BNB. We even have a bag of FTT.
It's amazing that they can know exactly who has sold based on a price chart involving millions of traders. FUD. 🤷♂️ pic.twitter.com/M3MUH2bFRE
— CZ 🔶 Binance (@cz_binance) June 13, 2023
CZ's statement sparked reactions in the crypto community. Some said rumor spreaders were looking for ways to use FUD to manipulate the market for their own benefit.
Binance is facing regulatory scrutiny
BTC remained relatively flat on Wednesday as even the US CPI announcement failed to significantly lower the price from $26,000. BNB, on the other hand, rose 6% to $249 the day after news that Binance.US will retain ownership of customers' crypto holdings amid the ongoing legal battle with regulators.
This came after the commission sought an asset freeze order when it filed its case, saying it would prevent wastage of funds.
Recall that the US Securities and Exchange Commission (SEC) accused the American branch of Binance of violating securities laws and excessively expanding its access to customer funds. According to the lawsuit, the violations include mismanagement of customer funds and deception of regulators and investors. Binance has strongly denied these claims.
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