BEARISH 📉 : CZ Addresses False Binance Rumors Amid Community Concerns

Changpeng Zhao, former CEO of Binance, has addressed and debunked several rumors circulating on social media:

A fabricated Polymarket screenshot suggested high odds of an event involving Zhao, which he confirmed does not exist.
Claims that Zhao canceled a Bitcoin supercycle were dismissed. He clarified his comments indicated a slight shift in confidence, not the cancellation of a market shift.
Rumors about Binance selling $1 billion in Bitcoin were refuted. Zhao explained it was user activity, not corporate sales, affecting observed market movements.
Concerns about Binance not executing its plan to convert $1 billion SAFU fund into Bitcoin were countered. Zhao noted the conversion would occur over 30 days, emphasizing Binance's liquidity capabilities.

Zhao also downplayed the impact of the $1 billion conversion on Bitcoin's price, noting its insignificance relative to Bitcoin's $1.7 trillion market cap.

At the time of writing, BNB trades at $767.23.

Binance BNB price