Binance Founder CZ Refutes Rumors of Large BNB Sell-Off
Changpeng Zhao denied claims of selling user assets or large holdings, stressing his preference for Bitcoin and BNB over stablecoins and rejecting Forbes’ net worth portrayal as cash-based.
On Jan. 30–31, Binance founder Changpeng Zhao addressed market rumors, denying significant BNB sell-offs and refuting online allegations that he sold user assets to reach a $92 billion net worth. CZ clarified that Forbes’ estimate does not represent cash holdings and stated he has not sold company equity or crypto for fiat. He emphasized occasional use of BNB solely for daily and operational expenses, with a personal investment preference for holding Bitcoin and BNB rather than stablecoins. Zhao reaffirmed Binance’s transparency, noting accounts are subject to regulatory audits globally, and warned investors not to be misled by misinformation.
- BNB: Binance Coin, the native cryptocurrency of the Binance exchange used for trading fee discounts, payments, and other platform utilities.
- FUD: Fear, Uncertainty, and Doubt—negative information, whether true or false, that can affect market sentiment.