Elon Musk Denies Posting Remarks Criticizing Binance's Market Share

Elon Musk denied making social media remarks attacking Binance's share of the crypto market, after a community user circulated claims that he criticized the exchange and urged users to move funds.

The user claimed Binance held about 80% of the crypto market and argued the exchange's position was holding back the industry. The post also attributed to Musk a call for users to move funds to other exchanges. The roughly 80% figure was the community user's claim.

CZ called the claims false, urged the user not to spread misinformation and shared an image indicating Musk had made neither the criticism nor the call to transfer funds.

Musk responded to CZ, saying he had not published the remarks and that they were fabricated. Binance is a cryptocurrency exchange.