CZ says Binance isn't selling bitcoin, BNB despite rumors

Companies • June 13, 2023, 5:58PM EDT
The Block

Quick Take

  • Binance CEO Changpeng ‘CZ’ Zhao pushed back against speculation on social media that the crypto exchange had been selling bitcoin.

Binance CEO Changpeng 'CZ' Zhao pushed back against speculation on social media that the crypto exchange had been selling bitcoin.

"Binance have not sold BTC or BNB," he said Tuesday on Twitter. "We even still have a bag of FTT. It is amazing they can know exactly who sold based on just a price chart involving millions of traders. FUD."

The comments came as the exchange is embroiled in a legal dispute with the U.S. Securities and Exchange Commission over allegations of major malfeasance and legal violations at its Binance.US unit the regulator argues should result in prohibiting the company from doing further business in the country.

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Earlier in the day, a judge asked the two sides in the dispute to work out a deal in an attempt to avoid a full asset freeze. 

Bitcoin was mostly flat in Tuesday trading, declining 0.1% to $25,874, according to TradingView. It's down 3.5% over the past month.


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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the University of Toronto, where he completed a specialist in political science, and an MBA from American University in Washington, D.C.

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