- Binance CEO blocks Adam Cochran after a report on the critic’s affiliation with FTX.
- Cochran argued that CZ has a history of silencing critics.
- Previously, Cochran claimed that Binance is commingling corporate and customer funds.
Changpeng Zhao (CZ), the CEO of Binance, the largest crypto exchange, has blocked one of his long-standing critics on X. In particular, Zhao jammed the door against Adam Cochran after Coin Edition reported the critic’s affiliation with FTX.
Cochran, a well-known figure in the crypto community, shared the development X. He argued that Binance CEO has a history of trying to silence critics. “Can’t disprove with facts, so just harass and block,” Cochran remarked in a recent tweet on X.
Notably, Zhao and Cochran had an encounter over the weekend before the CEO ultimately decided to block the critic. Cochran expressed reservations regarding the Binance Secure Asset Fund for Users (SAFU) during the face-off. He argued that the apparent security of the SAFU fund might be misleading.
Cochran emphasized that the BTC contained within the fund was not segregated from the general corporate reserves. According to his assertions, the fund’s BTC originated from Binance’s primary BTC hot wallet, which holds customer funds. Cochran inferred that Binance could be mixing corporate and customer funds.
Meanwhile, Zhao did not specifically respond to Cochran’s claims and allegations. However, he addressed the originator of the FUD attacks on Binance. Crypto influencer MartyParty had tweeted that Binance was aggressively defending BNB from crashing below $212.
MartyParty’s argument centered around a supposed $30 – $120 million re-buy order on BNB. In response, Zhao noted that the market exclusively determines the price of BNB. He pointed out the irony in the alleged re-purchase that purportedly serves as a defense mechanism.
Binance CEO remarked:
And where did the $212 magic number come from? BNB price is determined by the market. A $30m re-buy is less than 4% of a single day’s volume.
At press time, BNB trades at $210 with a significant 12.54% decline in its seven-day performance.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
