(short details)👇
🔍 What happened🤔
A viral social media post (on X, formerly Twitter) claimed that Binance had issued a cease-and-desist or legal threat to a user who posted about alleged insolvency or bankruptcy of the crypto exchange.
The user shared screenshots of what looked like a legal warning supposedly from Binance, demanding removal of the post or else legal action would follow.
🛑 Binance’s response👇
Binance denied the claims, saying the alleged legal letter was not from them and is a forgery.
The company’s official channels stated they did not issue any legal threats related to the insolvency rumors and warned people to be cautious about fake documents circulating online.
Binance executives, including founder Changpeng Zhao, characterized the rumors and threat claims as false and unsubstantiated.
📌 Why this matters🤔
The episode happened amid broader rumors and market anxiety about Binance’s financial health, which Binance has repeatedly denied.
False legal-threat claims can fuel fear among traders, potentially leading to large withdrawals or market instability if believed.
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