Changpeng Zhao, CEO of Binance, the largest cryptocurrency exchange, has taken to Twitter to address speculation on the internet about “$12 billion worth of Binance bleeding assets.”
The CEO said he would ignore the report and advised the media house to get an app to check the crypto market.
he wrote: Alright, put it on 4 and ignore it from here.” When someone questioned him as to why he pays attention to FUD, CZ wrote:
“Work in it (ignore). But sometimes when you wipe Twitter to see what our community is doing, you can’t refrain from commenting. We’ll try to improve.”
For 4, He mentions it in his tweet, CZ discussing his New Year’s resolutions.
He said, “We will try to keep 2023 simple. Spend more time doing less. please.
Forbes is now clearing the report
Forbes previously reported that Binance was losing assets. This study takes a deep dive into Binance’s financials, covering everything from the activity of the BUSD stablecoin to the overall health of his BNB token.
More than $360 million of the $12 billion losses reported by exchanges over the past 60 days occurred on Friday, Jan. 6, according to the report.
BNB token is down about 37% from a year ago, according to Nomics. Forbes believes exchanges lost $3 billion a year as a result of not charging fees for spot bitcoin trading during bear markets.
Additionally, according to Nansen, Binance lost $3 billion in assets in the previous week. This represents his 4% of the company’s total assets.