CZ pushes back against Binance 'FUD' as blame game for crypto crash persists

Binance co-founder Changpeng "CZ" Zhao used social media to counter what he termed "imaginative FUD" directed at him and his former exchange regarding recent poor crypto price action. CZ specifically addressed speculation that Binance dumped Bitcoin to cause a selloff below $75,000, stating that wallet balance changes only occur when users withdraw funds. He also defended the slow execution of Binance's plan to convert its SAFU fund to Bitcoin, explaining the purchases would occur over 30 days. Furthermore, CZ joked about claims that he single-handedly "canceled the supercycle," clarifying that his earlier comment only expressed reduced confidence in the thesis. These rebuttals come as Binance faces continued scrutiny and blame from figures like OKX founder Star Xu over the October 10 crypto flash crash.

(Source：CoinDesk)