Binance founder Changpeng Zhao (CZ) issued a sweeping assertion concerning the “FUD” (Worry, Uncertainty, Doubt) content material on the platform that has been circulating on social media in latest days.
CZ addressed a variety of points individually, together with polymarket allegations, the “supercycle” saga, information of Bitcoin gross sales, and hypothesis surrounding the SAFU fund.
CZ mentioned 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 every 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 mentioned the claims had excited some critics and frightened 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 ceaselessly mentioned within the crypto market. CZ mentioned 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 value of Bitcoin.” Zhao mentioned the information was a misunderstanding and that it was customers of the platform who offered the bitcoins, not Binance.
CZ claimed that the trade’s pockets stability solely adjustments when customers withdraw their property, and mentioned that the majority customers proceed to carry their property 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 property, he burdened.
One other level of competition was Binance’s plan to transform SAFU (Safe Asset Fund for Customers) to Bitcoin. CZ reminded everybody that it was beforehand introduced that funds can be transformed to Bitcoin inside 30 days. He mentioned that this conversion is deliberate to be distributed over a sure time frame, slightly than abruptly, and it’s pure that the funds is not going to seem on-chain instantly. He additionally added that the purchases is not going to be made on a decentralized trade (DEX) as Binance is a centralized trade (CEX) and trades by centralized liquidity.
CZ additionally used a mathematical analogy to clarify that purchasing roughly $1 billion value of Bitcoin inside 30 days would have a restricted impression on the $1.7 trillion market cap. He mentioned the transfer was slightly an indication of confidence and the psychological impression available on the market would rely on traders’ evaluation.
*This isn’t funding recommendation.
