Changpeng Zhao Has Denied All Rumors Of Selling Bitcoin

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Changpeng Zhao

The CEO Of Binance, Changpeng Zhao, has recently refuted all accusations that the company had been selling Bitcoin secretly to artificially stabilize the price of the token of BNB.

The rumors have been coming in through several market competitors, which include Dylan LeClair, an analyst, and Cory Klippsten, the CEO of Swan Bitcoin, who have gone on to accuse Binance of manipulating the market intentionally to inflate the market value of BNB to suit their purposes. In a 13th June tweet, CZ went on to claim that Binance had not sold any BTC or BNB, adding that the crypto exchange had been holding onto a bag of FTX Token- which was the native token of the now-defunct crypto exchange FTX. 

Changpeng Zhao Has Refuted All Rumors Of Selling BTC Underhandedly

Changpeng Zhao further added that it was quite amazing that one could know exactly who sold based on just the movement of the price chart that involved millions of traders. The post by the CEO of Binance was a direct response to the 14th June post from Skew, a technical analysis platform, that accused the company of market manipulation through a series of trades that involved BNB, BTC, and Tether.

In that exact threat, LeClair, the Bitcoin analyst, also claimed that BNB was simply a fake market, which was trading with far less realized volume than BTC. In a tweet made on the 13th of June, Klippsten also alleged that Binance had been engaging in wash trading, and had claimed that the company was trying to pretend that there was still some support for BNB. 

As a response to the post made by Changpeng Zhao, Consorti went on to assert that Binance should be publishing an audited statement that proves that Binance has absolutely no BNB-collateralized liabilities for the FUD to end.