CZ Refutes Rumors Claiming Binance Bought BTC, BNB

Binance CEO Changpeng Zhao (CZ) has taken to Twitter to quash rumors that his crypto change had been promoting its crypto holdings, together with BTC and BNB.

The hypothesis had been rife on social media, with some asserting that the corporate was concerned in vital gross sales of digital belongings. Nonetheless, Zhao debunked the rumors, saying Binance had not bought BTC or BNB and nonetheless held a bag of FTT tokens.

CZ Labels Rumor “FUD”

The Binance chief additionally expressed his amazement that some folks might conclude which particular person or group had bought cryptocurrencies based mostly solely on a value chart, which entails hundreds of thousands of merchants. He additionally labeled the rumors “FUD,” suggesting they had been baseless makes an attempt to create destructive sentiment round Binance.

4. Binance haven’t bought BTC or BNB. We even nonetheless have a bag of FTT.

It’s superb they will know precisely who bought based mostly on only a value chart involving hundreds of thousands of merchants. FUD. 🤷‍♂️ pic.twitter.com/M3MUH2bFRE

— CZ 🔶 Binance (@cz_binance) June 13, 2023

CZ’s assertion sparked reactions from the crypto group, with some saying that rumor spreaders are on the lookout for methods to make use of FUD to control the marketplace for their very own profit.

Binance Faces Regulatory Scrutiny

BTC remained comparatively flat on Wednesday as even the US CPI announcement couldn’t transfer it decisively from $26,000. BNB, then again, rose by 6% to $249 on the day following information that Binance.US will retain possession of consumers’ crypto holdings amid the continuing lawsuit with regulators.

This got here after the Fee had requested an order to freeze the belongings upon submitting its lawsuit, stating that it will stop the dissipation of funds.

Recall that the U.S. Securities and Change Fee (SEC) accused Binance’s American arm of violating securities legal guidelines and overextending its entry to buyer funds. In line with the lawsuit, the violations embody shopper fund mismanagement and deception of regulators and traders. Binance has strongly refuted these allegations.