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More FUD Coming Warns Binance CEO Changpeng Zhao – Here’s What’s Happening

Author: Sohrab Khawas

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    CEO of the largest cryptocurrency exchange Binance, Changpeng Zhao, has taken to Twitter to address the speculations doing rounds on the internet about ‘Binance bleeding assets worth $12 billion.’

    The CEO said that he will ignore the report and also advised the media house to get an app to check the crypto market. 

    He wrote, “Think they may need an app to check the crypto market.  Alright, will do 4, and ignore from here.” When someone questioned him about why he gives attention to the FUD, CZ write,

    “Working in it (ignoring). But when sweeping Twitter to see what our community is up to, sometimes, can’t hold back to comment. Will try to improve.”

    Regarding the 4, he is referring to in his tweet, CZ is talking about his new year resolutions. A few days ago, he took to Twitter and said that he will keep 2023 ‘simple.’

    He said, “Will try to keep 2023 simple. Spend more time on less things. Do’s and Don’ts. 1. Education 2.Compliance 3. Product & Service 4. Ignore FUD, fake news, attacks, etc. In the future, would appreciate if you can link to this post when I tweet “4”.

    Forbes now erases the report

    Forbes reported earlier that Binance was bleeding in assets. The research delves deeply into Binance’s financial situation, covering everything from BUSD stablecoin activities to the BNB token’s overall state of health.

    Over $360 million of the exchange’s reported $12 billion in losses over the past sixty days came on Friday, January 6 according to the report.

    According to Nomics, BNB token is down about 37% from a year ago. Forbes believes that the exchange lost $3 billion annually as a result of ceasing to charge fees for spot bitcoin trading during the bear market.

    In addition, Binance has lost $3 billion in assets over the previous week, or 4% of the company’s total holdings, according to Nansen.

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