Binance CEO Responds to Accusations of Selling Bitcoin and BNB
The BNB is being sold off for BUSD to suppress volatility in Bitcoin.
The controversial tweet raises questions about the crypto community.
The U.S. Securities and Exchange Commission has continuously filed lawsuits against the top crypto exchanges, including the world’s largest crypto exchange, Binance. After the lawsuit, Binance gained a lot of support from the crypto community.
Binance and CZ have been selling spot Bitcoin at an alarming rate, to defend the $BNB $220 liquidation waterfall
As spot Bitcoin is sold off, BNB is purchased, which defends the $220 liquidation but also caps the upside potential of Bitcoin
It is a total house of cards pic.twitter.com/ils8nsQiXd
— JW (@JW100x) June 13, 2023
Recently, Binance CEO Changpeng Zhao replied to the tweet of a crypto enthusiast. The tweet mentioned that the crypto exchange and CEO CZ are selling Bitcoin to defend the BNB $220 liquidation.
There is another reply tweet that confirms that Binance has sold Bitcoin. He mentioned that Bitcoin is being sold off for USDT reserves. Moreover, the BNB is being sold off for BUSD to suppress volatility in Bitcoin. He added that this is technically market manipulation, and Binance is definitely up to something here to prevent BNB from crashing as well as Bitcoin.
However, CZ replied that Binance had not sold any Bitcoin or BNB. Moreover, the exchange still has a bag of FFT. The controversial tweet raises questions about whether the crypto exchange sold Bitcoin and BNB.
Filed under: Bitcoin - @ June 13, 2023 11:10 pm