Binance founder Changpeng Zhao (CZ) issued a sweeping assertion relating to the “FUD” (Concern, Uncertainty, Doubt) content material on the platform that has been circulating on social media in current days.
CZ addressed numerous points individually, together with polymarket allegations, the “supercycle” saga, information of Bitcoin gross sales, and hypothesis surrounding the SAFU fund.
CZ stated that the occasion circulating on social media that allegedly reached $7 million in buying and selling quantity on Polymarket in reference to Binance is totally fabricated. Mr. Zhao claimed that this occasion didn’t exist in Polymarket or some other prediction market, saying, “If there actually was such a quantity, I might have been the primary to react.” Polymarket's prediction market asks the query “Will one thing be thrown in CZ's face within the 2026 crypto occasion?” and claims that the likelihood has reached over 80%.
CZ stated the claims had excited some critics and fearful some supporters, including that the information was fully baseless.
Mr. Zhao additionally humorously responded to claims that he has “deserted” the “supercycle” narrative that’s regularly mentioned within the crypto market. CZ stated he had no energy to manage the market and reminded everybody of his earlier assertion, solely saying that he was “much less assured than earlier than.” He claimed that his assertion was misconstrued and that he didn’t have the authority to information the market.
One of many points most clearly addressed by CZ was the declare that “Binance offered $1 billion price of Bitcoin.” Zhao stated the information was a misunderstanding and that it was customers of the platform who offered the bitcoins, not Binance.
CZ claimed that the change's pockets steadiness solely modifications when customers withdraw their belongings, and stated that the majority customers proceed to carry their belongings on Binance after buying and selling, utilizing the platform like a pockets. Due to this fact, buying and selling quantity shouldn’t be confused with firm belongings, he confused.
One other level of rivalry was Binance's plan to transform SAFU (Safe Asset Fund for Customers) into Bitcoin. CZ reminded everybody that it was beforehand introduced that funds can be transformed to Bitcoin inside 30 days. He stated that this conversion is deliberate to be distributed over a sure time period, somewhat than , and it’s pure that the funds won’t seem on-chain instantly. He additionally added that the purchases won’t be made on a decentralized change (DEX) as Binance is a centralized change (CEX) and trades by means of centralized liquidity.
CZ additionally used a mathematical analogy to clarify that purchasing roughly $1 billion price of Bitcoin inside 30 days would have a restricted influence on the $1.7 trillion market cap. He stated the transfer was somewhat an indication of confidence and the psychological influence available on the market would rely on buyers' evaluation.
*This isn’t funding recommendation.
