- Musk denied writing a post alleging Binance controlled 80% of the crypto market.
- Binance reportedly froze about $3B after an October 29 breach valued at $6.3B.
- Musk and CZ exchanged memes on November 6 before a fake post spread on November 7.
Elon Musk and Changpeng Zhao unexpectedly found themselves on the same side on November 7 after a viral post falsely claimed Musk had criticised Binance’s market dominance and urged users to withdraw funds. The episode followed weeks of public trolling between the two after Binance’s October 29 $6.3 billion security breach.
October Hack Sparks Cybersecurity Jokes
Coin Edition reported an October 29 Binance breach totaling $6.3 billion across blockchain wallets, attributing the incident to a compromised laptop without exposed private keys. However, the exchange reportedly froze $3 billion in assets and promised reimbursements through company resources and its SAFU fund.
Hours before the incident, CZ had warned users against suspicious emails and links. Musk subsequently responded to the warning with laughing and fire emojis. On October 30, he commented on the breach with the phrase “Everyday is Zeroday,” a reference to software vulnerabilities.
CZ pushed back against the mockery, referencing Binance’s $500 million contribution to Musk’s 2022 Twitter acquisition, acknowledging that the SpaceX shares received in return were worth more than $1 billion.
November 6 X Memes Extend Musk and CZ’s Public Exchange
On November 6, Elon Musk posted a red-tinted image depicting Changpeng Zhao sleeping. The post followed Dogecoin co-founder Billy Markus joking about checking crypto prices.
Changpeng Zhao, on the other hand, replied with a cartoon showing a character struck in the knee by an arrow. Their exchanges occurred amid cryptocurrency losses, but no evidence linked those posts to the market decline.
The memes continued the earlier dispute without addressing technical details of the reported breach. Elon Musk and Changpeng Zhao traded visual jokes as Binance remained central to the conversation.
November 7 Fake Binance Market Share Claim Draws Musk Denial
The November 7 exchange marked a change in tone. Rather than trading jokes, CZ and Musk jointly corrected a fabricated narrative about Binance. On November 7, an X account circulated a statement falsely attributed to Elon Musk, alleging that Binance controlled 80% of the crypto market and urging withdrawals. Changpeng Zhao rejected the claims as false, while Musk directly denied authorship, replying, “Yeah. I never wrote anything like that. This is made up.”
His response clarified that the market-share accusation did not come from him, while the alleged 80% figure remained unverified. Whereas their earlier exchanges involved cybersecurity jokes and personal memes, this latest confrontation focused on misinformation circulated online. The renewed attention followed their public remarks about Binance’s reported October security breach, which had already fueled several public exchanges between the two.
Related: Binance Hack Triggers 28,316 BTC Outflows, Santiment Reports
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