Changpeng Zhao Rejected Critics of Binance

Response from Changpeng Zhao

Changpeng Zhao, co-founder of Binance, responded to recent criticisms about himself and Binance via the social media platform X. Zhao characterized these criticisms as 'fear, uncertainty, and doubt (FUD) created by imagination.'

Zhao firmly rejected claims that Binance sold $1 billion worth of Bitcoin, causing a market crash. He did not accept allegations that weekend sales triggered this situation.

Additionally, he defended Binance's plan to convert the $1 billion User Secure Asset Fund from stablecoins to Bitcoin. Zhao noted that the conversion would take 30 days, emphasizing that it is a planned process.

Furthermore, Zhao stated that allegations claiming he weakened the long-term bullish thesis for crypto were not true. He mentioned that his cautious stance on the 'super cycle' has not had a negative impact on the market.