Changpeng Zhao (CZ), former CEO and co Founder of Binance, has responded to renewed waves of FUD circulating on X (formerly Twitter) following the October market crash.
After the sharp downturn in the crypto market last October, some X users alleged that Binance deliberately sold a large, undisclosed amount of Bitcoin to crash the market, allegedly in an attempt to trigger mass liquidations of leveraged traders. Some accusers went as far as demanding refunds from Binance and calling on Changpeng Zhao (CZ), former CEO and co founder of Binance, to personally take responsibility for losses suffered during the crash. These claims gained traction amid heightened emotions in the market, as many traders searched for explanations and parties to blame.
To address these accusations, CZ held an exclusive AMA on Binance’s creators platform, Binance Square, which drew over 80,000 listeners. During the session, he directly responded to several allegations and broader misconceptions being spread online.
CZ stated that blaming Binance alone for the October market crash is misguided and unlikely to lead to long term success for those making such claims. He emphasized that market crashes are typically driven by a combination of macroeconomic factors, leverage, and sentiment not the actions of a single exchange.
He further noted that many of the attacks originate from sketchy X accounts, often lacking strong evidence to back their claims. According to CZ, these narratives are sometimes amplified deliberately, adding that some competitors pay influential KOLs with large followings to spread negative sentiment and fuel coordinated FUD campaigns against Binance.
Addressing personal responsibility, CZ stressed that some traders who lost money during the crash are simply looking for someone to blame, emphasizing that investors must take responsibility for their own trading decisions and risk management.
CZ also clarified his current relationship with Binance, stating categorically that he no longer makes operational or strategic decisions at the company. He explained that he is now separate from Binance’s day to day management and remains only a shareholder, countering claims that he personally orchestrates market events.
He also addressed frequent references to his inclusion on lists of the world’s top billionaires, explaining that such rankings are compiled by publications like Forbes and do not imply he holds that amount in liquid or physical assets. Linking these estimates directly to market incidents, he said, is misleading.
Reflecting on the broader crypto market, CZ pointed to the performance of major cryptocurrencies over the past year. While he admitted he was once highly confident in the idea of a super cycle, he acknowledged that persistent FUD and heightened emotions in the community have introduced uncertainty. Nonetheless, he maintained an overall bullish outlook, stating that high volatility should be expected as a natural feature of the crypto market.
In adding my little cent, i will say at the end of the day, due diligence matters. In a market as volatile as crypto, participants must take responsibility for their decisions, understand the risks involved, and always do their own research before pointing fingers.
Creating or amplifying FUD especially against influential figures like CZ doesn’t strengthen the ecosystem. Instead, it fuels uncertainty, spreads misinformation, and misleads new and inexperienced participants who are still learning how the market works.
A healthier crypto space is built on facts, accountability, and informed conversations, not emotional reactions. Volatility is part of the game education and responsibility are how we navigate it.