The head of the largest cryptocurrency exchange Binance, Changpeng Zhao, has become a victim of another FUD. But an experienced businessman and staunch crypto enthusiast warned his fans in advance about what would happen.
Yesterday Zhao posted Twitter post with the number 4. Like this:
Such a post did not bother the savvy cryptans, because everyone knows what this gesture means. In early January Zhao wrote down the four most important rules for your exchange and the traders who trade on it. He said it was important to constantly learn, obey rules and laws, provide products and services, and most importantly, ignore FUDs, fake news, and media attacks on the exchange.
Some time later, a Twitter user with the nickname Cobie published an encrypted message in which he said that Zhao was put on the wanted list by Interpol. Rumors spread very quickly and the cryptans panicked. The rate of the native token of the BNB exchange fell to $299.5. After some time, the price recovered to $310.
Zhao responded to these rumors. He suggested that disinformation was spread by journalists on behalf of a rival exchange with Binance. Zhao said such actions harm the industry. In order to protect themselves from external enemies, representatives of the crypto industry need to rally, and not try to drown each other.
The latest Fud was only spread by crypto news outlets and KOLs, likely planted/sponsored by another exchange. Very petty. Hurts the industry and hurts themselves. There are enough external forces attacking us. Our industry needs to unite at this juncture.
— CZ Binance (@cz_binance) April 4, 2023
Zhao advised cryptans to read the media less and block sources that spread FUD. The last weeks have been difficult for Binance. On March 27, the US Commodity Futures Trading Commission (CFTC) sued the exchange and its CEO. The regulator believes that the trading platform violated the rules for trading derivatives by not attending to the appropriate registration.
The CFTC also alleges that Zhao and his former Compliance Officer Samuel Lim were “active in acquiring large and commercially important VIP clients, including institutional clients located in the United States.”
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