Binance’s CZ Pushes Back on Blame as BTC, ETH, and BNB Prices Slide
- CZ has brushed aside the “blame Binance” claims as BTC, ETH, and BNB trade lower, urging users to own their trading decisions.
- Citing a report on an AI-driven “FUD” campaign, co-founder Yi He said misinformation can shape user behavior and market mood during drawdowns.
Binance co-founder Changpeng Zhao has pushed back against the recent criticism against the exchange amid the crypto market crash. In a post on X, CZ said negative claims about Binance are often inaccurate and argued that traders should take responsibility for their own decisions rather than blaming an exchange during downturns.
“Not saying we are perfect, but at this point, smart people actually triple check any negative ‘news’ on Binance. They are just making stuff up,” Changpeng Zhao wrote.
He also said language such as “blame” is used to attract people who “are unwilling to take responsibility for their own actions.” The comments circulated as community discussions about Binance intensified while major tokens traded lower on the day.
Zhao also addressed complaints tied to frozen funds, pointing to compliance processes rather than social media pressure. Replying to a user referencing Tether and wallet restrictions, Zhao said he did not know the details of the case, and added that frozen funds are typically linked to a police case or flagged by an anti-money-laundering tool. He said such situations may take time and are handled through established procedures.
Binance Founders Yi He and CZ Fight Back
The remarks followed separate social media posts from Binance co-founder Yi He, who commented on a report describing an AI-driven “FUD” campaign targeting Binance. In her message, Yi said misinformation aimed at major platforms can influence how different user groups react, ranging from short-term selling to broader hesitation among longer-term participants. The report she referenced described the activity as coordinated rather than spontaneous.
CZ has also weighed in on criticism around exchange listings. In a response to an X post discussing meme coin listings, he said exchanges tend to offer access to a wide range of tokens and that listing approaches differ by platform and can change over time. He added that debates often treat decentralized exchanges and centralized exchanges differently, even when both provide broad token access.
The latest exchange-related debate has unfolded alongside weaker price action in large-cap assets, with BTC, ETH, and BNB all trading lower during the same period. At press time, Bitcoin, Ethereum, and BNB prices were attempting a recovery to trade at $69,200, $2,018, and $623, respectively.
However, despite the dip, crypto and TradFi leaders have defended the market, reiterating that the current bearish momentum is not systemic. As we reported, $900 billion giant Bernstein termed the current market a “crisis of confidence” by the crypto community and “the weakest Bitcoin bear market in history.”
Chainlink founder Sergey Nazarov has doubled down on this, saying that the market’s resilience proves that crypto has gone mainstream and is no longer shaken by a few bad days.
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