2 years ago
The CEO and co-founder of Binance CZ took to Twitter successful effect to a FUD-filled nonfiction published by Forbes astir the speech and its caller “shuffling” of funds.
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Collect this nonfiction arsenic an NFT
In the aftermath of the FTX collapse, Forbes published an article that focused connected the caller “shuffling” of funds by the cryptocurrency speech Binance.
However, the pursuing time connected Feb. 28, Binance co-founder and CEO Changpeng Zhao (CZ) took to Twitter to tackle the FUD. In effect to the article, the CEO said:
“They look to not recognize the basics of however an speech works. Our users are escaped to retreat their assets immoderate clip they want.”In his bid of tweets, helium addressed assorted claims from the Forbes article. This included what it called a “backroom maneuver” erstwhile Binance transferred $1.8 cardinal successful stablecoin collateral to hedge funds specified arsenic Tron, Amber radical and Alameda Research betwixt Aug. 17, 2022, to aboriginal December.
They called retired Tron, Amber group, Alameda Research, etc. They look to not recognize the basics of however an speech works. Our users are escaped to retreat their assets immoderate clip they want. Their withdrawals are turned into “received hundreds of millions of shifted collateral.” 2/
— CZ Binance (@cz_binance) February 28, 2023In airy of the question of funds, the nonfiction drew parallels betwixt Binance and the now-defunct FTX successful the lead-up to its ain demise. It besides touched connected the failed Voyager bid by Binance.US and the recent ordeal with Paxos and BUSD minting.
This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.
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