Binance founder Changpeng Zhao (CZ) has issued a complete assertion concerning the “FUD” (worry, uncertainty, and doubt) content material circulating on social media in regards to the platform in latest days.
CZ responded individually to quite a few points, together with the Polymarket allegations, the “supercycle” narrative, information of Bitcoin gross sales, and hypothesis surrounding the SAFU fund.
CZ said that an occasion circulating on social media, allegedly reaching a $7 million quantity on Polymarket associated to Binance, was fully pretend. Zhao argued that this occasion didn’t exist on Polymarket or another prediction market, saying, “If there actually was such a quantity, I might have been the primary to react.” The prediction market on Polymarket, asking “Will one thing be thrown in CZ’s face at a cryptocurrency occasion in 2026?”, was claimed to have reached a chance of over 80%.
CZ mentioned the declare had excited some critics and apprehensive some supporters, including that the information was fully unfounded.
Zhao additionally responded humorously to claims that he had “canceled” the “supercycle” narrative, a frequent subject of dialogue within the crypto market. Stating that he doesn’t have the ability to manage the markets, CZ reminded everybody of his earlier assertion the place he solely mentioned he was “much less assured than earlier than.” He asserted that this assertion was misinterpreted and that he has no authority to steer the market.
One of many points CZ addressed most clearly was the declare that “Binance offered $1 billion value of Bitcoin.” Zhao said that this information was a misinterpretation, saying that it was not Binance that offered Bitcoin, however somewhat the platform’s customers.
CZ argued that the alternate’s pockets balances solely change when customers withdraw belongings, stating that almost all customers proceed to carry their belongings on Binance after buying and selling and use the platform like a pockets. Due to this fact, he emphasised that buying and selling quantity shouldn’t be confused with firm belongings.
One other level of rivalry was Binance’s plan to transform its SAFU (Safe Asset Fund for Customers) to Bitcoin. CZ reminded everybody that it had beforehand been introduced that the fund can be transformed to Bitcoin inside 30 days. He said that this conversion was deliberate to be unfold over a selected interval, not suddenly, and that it was pure for the funds to not seem on-chain instantly. He additionally added that Binance is a centralized alternate (CEX) and conducts transactions via centralized liquidity, due to this fact purchases wouldn’t seem on decentralized exchanges (DEX).
CZ additionally used a mathematical analogy for instance that buying roughly $1 billion value of Bitcoin inside 30 days would have a restricted affect in the marketplace capitalization of $1.7 trillion. He said that this transfer was extra of a gesture of confidence, and that its psychological affect in the marketplace trusted buyers’ evaluation.
*This isn’t funding recommendation.
