The CEO of crypto exchange Binance, Changpeng Chao (CZ) posted a thread on his Twitter account, lashing out at major Chinese news site 163 for publishing fake news on Binance. to propagate FUD.
The CEO also reminded the crowd that global crypto news site The Block also spread FUD on Binance by publishing an article with a misleading title three years ago.
“3 years ago, The Block published an article claiming that the Binance office was raided by the police. The article was copied by other sites and spread very quickly on social networks.
BNB fell from $24 to $18 that day, wiping out $400 million in market capitalization afterwards.”
CZ discovered fake news from 163 at 8:40 UTC on Aug. 18. Five hours later, he posted a thread lashing out at both 163 and then Block for spreading FUD and said the BNB price had gone. how to react. He also noted that the original article from 163 has been deleted, but many copies of it are still being circulated in the community.
And as soon as the above FUD was announced, the BNB price plummeted from 310 USD to 300 USD in an instant before being strongly affected today by Bitcoin’s flash dump to $21,500, causing the market to fall. “Fire sea”. At press time, BNB is trading around $285.
The misleading information of 163 is just one of the major FUDs that the CEO of Binance and the exchange himself has suffered in recent times. Most prominently in early June 2022, Binance was accused of supporting money laundering of $ 2.35 billion in addition to BNB being investigated as a “security”, reported by two leading newspapers in the world, Reuters and Bloomberg.