- CZ denied viral claims linking Binance to the Bitcoin selloff, saying consumer transactions, not trade actions, drove the exercise.
- The Polymarket screenshot put up related to CZ was confirmed to be faux, with no actual contracts or verified volumes.
- CZ stated the SAFU Bitcoin conversion will happen progressively over 30 days and should not seem on-chain instantly.
Changpeng Zhao publicly responded to a collection of viral claims circulating on social media in latest days, addressing misinformation about Binance, Bitcoin market exercise, and the prediction market narrative. The assertion comes as Bitcoin recorded a worth decline and a rising debate on-line following a number of posts attributing market actions to feedback and actions associated to CZ.
In an in depth response, CZ stated he noticed imaginative false narratives gaining traction. He stated a few of the posts had raised issues amongst customers and market members and known as for the information to be clarified.
Pretend Polymarket screenshots seize consideration
One extensively shared put up claimed to point out a prediction market contract on Polymarket associated to a hypothetical incident involving CZ in a future crypto occasion. The put up listed a likelihood of practically 79% and a buying and selling quantity of roughly $7 million.
CZ acknowledged that the occasions talked about don’t exist on Polymarket or every other forecasting platform and that the numbers proven are fabricated. He added that whereas prediction markets mirror dealer sentiment, the posts in circulation don’t correspond to precise itemizing or verified knowledge.
Moreover, Zhao Changpeng dismissed claims that the supercycle had been canceled, saying the thought was exaggerated. Talking on Binance Sq., Zhao didn’t exude a lot confidence, including that he doesn’t have the authority to regulate world market cycles or outcomes.
Bitcoin gross sales claims associated to Binance actions
One other declare alleges that Binance bought $1 billion price of Bitcoin throughout skinny buying and selling over the weekend, contributing to the market decline. CZ denies this declare, stating that Bitcoin gross sales mirror consumer exercise relatively than exchange-driven gross sales.
He defined that Binance pockets balances primarily change when customers withdraw funds, noting that many customers preserve their belongings on the platform even after executing a transaction.
Questions in regards to the SAFU Fund and its affect available on the market
CZ additionally addressed hypothesis surrounding Binance’s protected haven fund for customers, often called SAFU. He reiterated that Binance had acknowledged that the trade of SAFU reserves into Bitcoin will happen over 30 days.
He famous that these purchases are more likely to happen internally relatively than in a decentralized venue, and stated the timing of on-chain transfers could not mirror incremental buying exercise.
This dialogue follows feedback made by CZ in a latest AMA wherein he stated he’s much less assured than earlier than a few Bitcoin supercycle, however maintained that such an consequence remains to be potential. He cited heightened uncertainty, world circumstances and rising sentiment, and warned towards making monetary selections primarily based solely on private opinion.
Associated: Changpeng Zhao says Binance is not going to make large-scale gross sales amid market FUD
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