Binance founder Changpeng "CZ" Zhao has publicly addressed recent market fears, denying that the exchange or he personally are conducting significant sell-offs of BNB or Bitcoin. In a post on X and during an English-language AMA on Binance Square, CZ sought to quell Fear, Uncertainty, and Doubt (FUD) circulating about the platform's operations and its impact on cryptocurrency prices.
Regarding BNB, CZ explicitly stated, "I/Binance do not sell in any meaningful amounts." He clarified that his personal selling is minimal, such as small conversions to settle expenses like a $5 coffee purchase. He emphasized that Binance's practice of converting portions of its BNB revenue to cover operational costs is a normal business procedure and not a large-scale divestment strategy.
Addressing allegations that Binance caused a sharp market drop on October 11th, CZ attributed the decline to external macroeconomic events, specifically statements by US President Donald Trump regarding tariffs. He argued that no single entity, including Binance, could orchestrate a market-moving "Bitcoin dump" due to the hundreds of billions in capital required. CZ reiterated that Binance, as a globally regulated platform, does not engage in proprietary trading to profit from market movements and has no justification for illegal activities.
On the topic of his personal wealth, CZ referenced a Forbes net worth listing of $92 billion, clarifying that this figure does not represent liquid cash. He stated he has not converted his company shares or crypto holdings into fiat currency, citing a long-term belief in the depreciation of fiat currencies and a preference for holding assets like Bitcoin and BNB.
CZ also responded to criticisms about platform stability and token listings. He acknowledged that no technology can guarantee 100% uptime but noted that Binance has compensated users for past incidents. Regarding listings, he emphasized that Binance merely provides trading infrastructure and is not responsible for a token's performance, drawing a parallel to the Nasdaq stock exchange.
Finally, CZ suggested that a wave of FUD is being amplified by malicious and paid accounts. While acknowledging short-term pressure, he believes this scrutiny will ultimately have a positive long-term impact by increasing transparency and brand awareness for Binance.
