Binance founder Changpeng Zhao (CZ) issued a sweeping assertion concerning the “FUD” (Concern, Uncertainty, Doubt) content material on the platform that has been circulating on social media in latest days.
CZ addressed a lot 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 another prediction market, saying, “If there actually was such a quantity, I’d 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 anxious some supporters, including that the information was utterly baseless.
Mr. Zhao additionally humorously responded to claims that he has “deserted” the “supercycle” narrative that’s regularly mentioned within the crypto market. CZ mentioned he had no energy to regulate 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 mentioned the information was a misunderstanding and that it was customers of the platform who offered the bitcoins, not Binance.
CZ claimed that the alternate’s pockets stability solely modifications when customers withdraw their belongings, and mentioned that almost all customers proceed to carry their belongings on Binance after buying and selling, utilizing the platform like a pockets. Subsequently, buying and selling quantity shouldn’t be confused with firm belongings, he harassed.
One other level of rivalry was Binance’s plan to transform SAFU (Safe Asset Fund for Customers) to Bitcoin. CZ reminded everybody that it was beforehand introduced that funds could be transformed to Bitcoin inside 30 days. He mentioned that this conversion is deliberate to be distributed over a sure time period, somewhat than unexpectedly, 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 alternate (DEX) as Binance is a centralized alternate (CEX) and trades via 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 mentioned the transfer was somewhat an indication of confidence and the psychological influence in the marketplace would rely upon traders’ evaluation.
*This isn’t funding recommendation.
