Binance CEO lashes out at Chinese media agency for circulating fake news
Changpeng Zhao (CZ), the CEO of the Binance Crypto Exchange, called out 163, a major Chinese news agency, in a twitter thread on his account for releasing a false report about Binance Exchange in an effort to sow discord, as reported by Cryptoslate.
The CEO also retold the audience that three years ago, The Block, a worldwide crypto news agency, circulated misinformation about Binance Exchange by publishing an article with a misleading title. The original article from 163 news outlets was deleted, but several copies of it might still be seen online, he added.
In a series of his tweets, the news agency 163 wrote, “Changpeng Zhao, the founder of Binance Exchange, was arrested in the mansion during the FBI raid, and a room of BNB and BUSD was found in the basement of the mansion.”
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The BNB token is price dropped from $310 to $301 approximately 3% as soon as the fake news started to circulate in the internet. After falling for an hour, BNB is price began to rise again. As of the time of publication of the article, BNB is worth $303,4. The Binance Exchange is CEO closed his twitter thread by claiming that three years ago, The Block also circulated fear, uncertainty and doubt (FUD), causing the value of BNB to drop from $24 to $18, wiping out almost $400 million from the token’s market capitalization.
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The coldest winter in Crypto Market has given many such exchange platform leaders a tough time. However, judging by the news, Binance Exchange seems largely unaffected by the slump in the crypto space. According to a recent report by CryptoSlate, Binance Exchange is Bitcoin holdings began to increase in May 2022 and eventually surpassed 623,000 Bitcoin mark. As if the market sentiments are preem, the Binance Exchange is also continuing its investments and hiring new personnel. Zhao claims that Binance Exchange can even buy exchanges that are financially stressed as a result of the crypto winter, Cryptoslate noted.
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