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Binance CEO Changpeng Zhao (CZ) has taken to Twitter to dispel rumors that his cryptocurrency exchange had been liquidating its crypto assets, including BTC and BNB.
The speculation had been widespread on social media, with some claiming that the firm was engaged in substantial sales of digital currencies. However, Zhao refuted the claims, stating that Binance had not sold BTC or BNB and still possessed a quantity of FTT tokens.
CZ Calls Rumor “FUD”
The Binance leader also conveyed his astonishment that some individuals could determine which person or group had sold cryptocurrencies based solely on a price chart, which involves millions of traders. He further categorized the rumors as “FUD,” implying they were unfounded efforts to generate negative sentiment towards Binance.
CZ’s remarks elicited responses from the crypto community, with some asserting that those spreading rumors are seeking ways to exploit FUD to manipulate the market for their own advantage.
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Binance Under Regulatory Examination
BTC remained largely unchanged on Wednesday, as even the US CPI announcement failed to shift it significantly from $26,000. Conversely, BNB increased by 6% to $249 on the day following reports that Binance.US will maintain control of customers’ crypto assets amid the ongoing legal battle with regulators.
This development followed the Commission’s request for an order to freeze the assets upon initiating its lawsuit, indicating that it would prevent the depletion of funds.
It is important to note that the U.S. Securities and Exchange Commission (SEC) has accused Binance’s American division of breaching securities regulations and improperly accessing customer funds. The lawsuit alleges violations including mismanagement of client funds and misleading regulators and investors. Binance has categorically denied these accusations.
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