CZ Pushes Back on Binance FUD as Crypto Market Faces Renewed Volatility

Binance co-founder Changpeng “CZ” Zhao has publicly dismissed a wave of allegations blaming him and the world’s largest crypto exchange for recent negative crypto price action, calling the claims “pretty imaginative FUD.” The comments come amid heightened market volatility following bitcoin’s weekend drop below $75,000, which reignited speculation across social media.

In crypto circles, FUD—short for fear, uncertainty, and doubt—often refers to misleading or exaggerated narratives that can amplify panic. While the term is sometimes used to brush off legitimate criticism, Zhao argued that the latest accusations crossed into fiction. In a post on X on Monday, he addressed multiple claims, including speculation that Binance dumped bitcoin to trigger the selloff, concerns around the Secure Asset Fund for Users (SAFU), and jokes suggesting he “canceled the crypto supercycle.”

Zhao pushed back on the idea that Binance sold $1 billion worth of BTC, clarifying that the on-chain movements cited belonged to users trading on the platform, not the company itself. He explained that Binance’s wallet balances primarily change when users withdraw funds, noting that many customers treat the exchange as a long-term wallet due to its liquidity and infrastructure.

He also responded to criticism over Binance’s SAFU fund, which the exchange recently announced it would gradually convert from stablecoins into bitcoin. Zhao said the BTC purchases were always planned to take place over roughly 30 days and would be executed strategically, not through decentralized exchanges. According to him, Binance’s centralized exchange structure allows for deeper liquidity and more efficient execution.

Addressing sarcastic claims that he derailed the long-anticipated crypto supercycle, Zhao reiterated that he merely said he was “less confident” in the theory than before. He joked that if he truly had that level of influence, he would simply “snap it back” instantly.

Despite stepping down as Binance CEO in 2023 after a $4.3 billion settlement with U.S. authorities and serving a four-month prison sentence, Zhao remains one of the most influential figures in the crypto industry. His comments arrive as some market participants continue to blame Binance for past events, including the October 10 flash crash that wiped out billions in leveraged positions and strained crypto market liquidity.