Binance co-founder Changpeng Zhao (CZ) has denied a viral declare. It’s concerning the trade’s actions in the course of the 2020 market crash. On February 13, CZ responded to a broadly shared put up that accused Binance of incomes greater than 60K $BTC on BitMEX. The declare advised Binance hedged consumer positions earlier than the March 2020 crash. Moreover, it recorded the most important withdrawal and revenue in BitMEX historical past.
4. Faux information. They only making issues up randomly now. Undecided what their objective is. I really feel unhealthy for the individuals believing this with out seeing any proof. 😂
Binance by no means traded on BitMex. @CryptoHayes (a pal) would know. BitMex processes withdrawals solely as soon as a day (so far as I… pic.twitter.com/qFBiyE1Lji
— CZ 🔶 BNB (@cz_binance) February 13, 2026
Zhao known as the story “faux information” and stated there was no proof behind it. He additionally stated Binance by no means traded on BitMEX in any respect. His response rapidly unfold throughout crypto social media, the place the unique declare had gained traction.
The Viral Declare About 60,000 $BTC Earnings
The controversy began with a put up from the account @ThinkingUSD. The put up stated Binance was probably the most worthwhile dealer on BitMEX in the course of the March 12, 2020 crash. It claimed the trade remodeled 60K $BTC by hedging buyer positions.
It additionally stated the exercise led to the most important withdrawal. With revenue ever recorded on the platform. The assertion unfold rapidly, with many customers sharing it throughout completely different crypto communities. The declare referred to the so-called “Black Thursday” crash. On that day in March 2020, $BTC worth dropped sharply inside hours. The transfer triggered huge liquidations on leveraged buying and selling platforms, particularly BitMEX.
CZ’s Direct Rebuttal
CZ rapidly responded to the allegation on X. He wrote, “Faux information. They’re simply making issues up randomly now.” He added that he felt unhealthy for individuals who believed such claims with out proof. He additionally made a transparent assertion. In keeping with CZ, Binance by no means traded on BitMEX at any time. He tagged BitMEX co-founder Arthur Hayes within the reply. Suggesting he may affirm the declare was false.
Zhao pointed to BitMEX’s withdrawal course of as one other subject. He stated the trade solely processed withdrawals as soon as per day. That may make an enormous single withdrawal extremely seen and straightforward to confirm. He argued that due to that system, the story didn’t make technical sense.
Blended Reactions Throughout Crypto Social Media
The talk unfold rapidly throughout crypto Twitter. Some customers supported CZ and known as the declare baseless FUD. They stated there was no on-chain proof or historic information to again the story. Others speculated about trade conduct throughout crashes. Some questioned whether or not massive platforms may hedge positions elsewhere. Nonetheless, most responses centered on the shortage of proof behind the unique declare. Related accusations have circulated in crypto for years. Giant exchanges usually face rumors about buying and selling in opposition to customers or gaining unfair benefits. Many of those claims stay unproven.
Ongoing Belief Questions within the Business
The scenario highlights a well-known subject in crypto. Rumors can unfold quick, particularly after they contain large exchanges or dramatic numbers. Up to now, no verifiable information helps the 60K $BTC declare. CZ’s public denial has shifted consideration again to the necessity for proof. For now, the story stays a social media controversy somewhat than a confirmed occasion.
