Binance CEO Warns of New FUD Wave

Crypto money markets, which started 2023 with positive pricing, seem to have made a fresh start. The value of crypto money markets, which was $ 795 billion at the beginning of the year, approached $ 860 billion with a steady increase. In parallel with this situation, strong rises came to the fore in the altcoin markets and the market turned green. However, Binance CEO pointed out that this positive mood may not last long. Successful CEO, “More FUD is coming.” said.

Changpeng Zhao, CEO of leading cryptocurrency exchange Binance, pointed out that more FUD should be ignored. This brought to mind the FUD wave that Binance experienced in the last month of the year. As it will be remembered; After the bankruptcy of the FTX stock market, the claims that the Binance stock market will also collapse have gained strength. The size of the stock market’s FUD reached unexpected levels, with $3 billion out of money in one day. Although the worst is over for the giant stock market, Chanpeng Zhao pointed out that a new wave may come.

Chanpeng Zhao’s FUD sharing brought to mind platforms that have liquidity problems after FTX. Currently, the Genesis tension between Gemini and Digital Currency Group continues. Now it is often stated that the FTX contagion may have spoiled the financial statements of these companies. However, Zhao’s FUD prospect did not focus directly on one issue. Because the CEO of the giant stock exchange gave signs that FUD was created for them.

Although Chanpeng Zhao did not directly post, he retweeted a response to Forbes’ allegations. “Binance assets are bleeding, $12 billion was spent in less than 60 days,” Zhao said. ignored his claim. Thus, Zhao implied that the claim made by Forbes was a baseless FUD. Remarkably, the claim that “BUSD is not fully collateralized” by Bloomberg was not denied. A spokesperson for the exchange acknowledged that the stablecoin project was under-collateralized from time to time in 2020 and 2021. On the other hand, he underlined that the dollar equivalent of BUSD is now being held.