Crypto Community Defends Binance Amid Prevailing Rumors and FUD

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Binance CEO Applauds EU Crypto Regulatory Conditions
  • Changpeng Zhao dismisses the prevailing FUD, assuring the company’s stability.
  • The company has been embroiled in a series of gossip over the past few days.
  • Crypto enthusiasts offer support to Zhao conveying their belief in Binance and its CEO.

Binance has recently been bombarded by a series of rumors concerning lawsuits, the departure of chief executives, and more, immersing the community in a sphere of FUD. Binance CEO Changpeng Zhao responded to the circulating rumors with a note of assurance that the company was stable amid the market uncertainties.

Over the past few days, Binance has been embroiled in a series of rumors including the reports about the resignation of 10 Binance executives since July 2023. The latest departure news was regarding the Executive Vice President of Binance, Helen Hai, who left the company on September 6. It was also revealed that Gleb Kostarev, Vice President at Binance’s various branches, announced his resignation the same day. However, in the Twitter post, Zhao dismantled the prevailing ambiguities, reaffirming the platform’s stability. He cited,

No liquidity issues. All withdrawals (and deposits) are properly handled. All customer funds are SAFU, and 100% reserved.

In addition, Zhao also shed light on Binance’s accomplishments in the same period, including introducing new fiat channels, launching new products, new hires and markets, and winning in court cases. His words reflected the need to disregard the prevailing rumors, as he stated that there is nothing to be done if rumors and FUDs exist despite the company’s steady track.

In response to Zhao, crypto enthusiast Selena took to Twitter to convey her trust in Binance, shedding light on the Binance CEO’s sincere diligence for his community. She wrote, “I understand it eats you up when you’re cooking and working 24/7 for customers and still get to face FUD”.

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