Binance CEO denies FUD caught by FBI spread by Chinese news agency

On August 18, Binance CEO Changpeng Zhao updated a series of tweets criticizing 163 – a major Chinese news site for publishing fake information about him to spread FUD.

Binance CEO denies FUD caught by FBI spread by Chinese news agency

Specifically, 163 reported with the content “Changpeng Zhao, founder of Binance, was arrested in his private mansion during the FBI raid, and a room filled with BNB and BUSD was found in the basement of the mansion. mansion.”



The interesting point here is that BNB or BUSD both exist in a digital form, cannot be seen, and the description of 163 is very absurd, but according to Mr. Changpeng Zhao, this news is still chosen by many other newspapers to news and quickly spread on many social networking groups.



And as soon as the above FUD was announced, the BNB price plummeted from 310 USD to 300 USD in an instant before being strongly affected today by Bitcoin's flash dump to $21,500, causing the market to fall. "Fire sea". At press time, BNB is trading around $284.

1H chart of BNB/USDT price at 4:54 PM on Aug 19, 2022. Source: Binance

In addition, the Binance CEO reminded the crowd that they should be careful before receiving unfounded information, by referring to the famous global crypto news site The Block that also spread Binance-related FUD through an article with a misleading title three years ago.



“3 years ago, The Block published an article claiming that the Binance office was raided by the police. The article was copied by other sites and spread very quickly on social networks. BNB fell from $24 to $18 that day, wiping out $400 million in market capitalization afterwards.”

However, the misleading information of 163 is just one of the major FUDs that the CEO of Binance and the exchange himself has suffered in recent times. Most prominently in early June 2022, Binance was accused of supporting money laundering of $ 2.35 billion in addition to BNB being investigated as a "security", reported by two leading newspapers in the world, Reuters and Bloomberg.


And when things went too far, the CEO of Binance "strongly" sued Bloomberg newspaper in Hong Kong for using offensive language against him.

Fox Crypto News Summary



Aug 20, 2022

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