• Binance CEO Changpeng Zhao (CZ) has taken to Twitter to refute rumors that his exchange had been selling its crypto holdings, including BTC and BNB.
• CZ labeled the rumors “FUD” or baseless attempts to create negative sentiment around Binance.
• Crypto community members have suggested that rumor spreaders are trying to manipulate the market for their own benefit.
Binance Refutes Claims of Crypto Selling
Binance CEO Changpeng Zhao (CZ) has recently taken to Twitter in order to refute rumors that his crypto exchange had been selling its crypto holdings, including Bitcoin (BTC) and Binance Coin (BNB). CZ labelled these rumors as “FUD” or unfounded attempts to create a negative sentiment around Binance. Members of the crypto community have suggested that people who are spreading such rumors may be looking for ways to manipulate the market for their own benefit.
Rumors Were Based on Price Charts
CZ expressed his amazement that some people could conclude which individual or community had sold cryptocurrencies based solely on a price chart, which involves millions of traders. He also noted that Binance still held its FTT position and had not sold either BTC or BNB coins.
Reactions from the Crypto Community
The statement from CZ sparked reactions from the crypto community, with some saying that rumor spreaders are looking for ways to use FUD in order to manipulate the market for their own benefit. The speculation had been rife on social media prior to this statement, with some asserting that the company was involved in significant sales of digital assets.
Crypto Market Remains Flat Despite CPI Announcement
BTC remained relatively flat on Wednesday as even the US Consumer Price Index announcement couldn’t move it decisively from $26,000 USDT. In contrast, BNB rose significantly after CZ’s tweet about refuting claims of cryptocurrency selling by Binance Exchange platform – rising by nearly 6%.
Conclusion
This article discusses how CZ refuted rumors claiming that his exchange had been selling its crypto holdings including Bitcoin and BNB coins. He also labeled them “FUD” or baseless attempts at creating negative sentiment around his business venture and called out those who were trying to manipulate the markets for their own gain. Although BTC remained relatively flat despite news of an important CPI announcement, there was a significant increase in prices for BNB after CZ’s statement was made publically available via Twitter.