With investors rising concern for Binance FUD, CZ speaks out the legitimate causes leading to it
Binance FUD was a significant concern for investors and the platform. Consequently, BNB faces a substantial blow as its market capitalization dropped by 11% last week. Yet, it would be easier to restore as the platform has one of the highest numbers of daily users.
Amidst so many allegations of FUD over Changpeng Zhao (CZ), he finally speaks out. His tweet specified the reasons behind Binance’s FUD. According to him, external factors account for Fear, Uncertainty, and Doubt, and there are no issues with the platform.
Besides he also stated the factors. These include public resentment towards centralization. Further, he elaborated that people dislike it if a community positively accelerates crypto adoption. Additionally, BNB has several rivals to obstruct its path. Such people hire biased media or journalists who modify news to suit their interests. It looks like he knows something, as CZ added that some such rivals even buy the channel CEOs some property. This seems like a typical rat race.
Several politicians are not in favor of the Blockchain trade and thus spread false information to suppress it. Further, some individuals also do so in envy.
The noteworthy fact is that some of Binance’s crypto sharks are moving their assets to other CEX.
CZ presented his stance, and it would be worth watching whether people believe in him!