- CZ rejected viral claims linking Binance to Bitcoin sell-offs, stating user trades, not exchange actions, drove activity.
- A post of a Polymarket screenshot tied to CZ was confirmed as fake, with no real contract or verified volume.
- CZ said SAFU Bitcoin conversions will occur gradually over 30 days and may not appear immediately on-chain.
Changpeng Zhao publicly responded to a series of viral claims circulating on social media in recent days, addressing misinformation about Binance, Bitcoin market activity, and prediction market narratives. The remarks followed heightened online discussion after Bitcoin recorded a price decline and several posts attributed market moves to statements or actions linked to CZ.
In a detailed response, CZ said he had observed what he described as imaginative false narratives gaining traction. He stated that some posts had caused concern among users and market participants, prompting him to clarify the record.
Fake Polymarket Screenshot Draws Attention
One widely shared post claimed to show a prediction market contract on Polymarket related to a hypothetical incident involving CZ at a future crypto event. The post displayed a probability near 79% and trading volume of roughly $7 million.
CZ stated that the referenced event does not exist on Polymarket or any other prediction platform and said the figures shown were fabricated. He added that while prediction markets reflect trader sentiment, the circulating post did not correspond to any real listing or verified data.
In addition, Changpeng Zhao responded to claims that he had cancelled the supercycle, dismissing the idea as exaggerated. Speaking on Binance Square, Zhao said he only showed less assurance, adding that he holds no power to control market cycles or outcomes globally.
Bitcoin Selling Claims Linked to Binance Activity
Another claim alleged that Binance had sold $1 billion worth of Bitcoin during a thinly traded weekend session, contributing to the market decline. CZ rejected this assertion, stating that Bitcoin sales reflected user activity rather than exchange-driven selling.
He explained that Binance wallet balances change primarily when users withdraw funds, noting that many users hold assets on the platform even after executing trades.
SAFU Fund and Market Impact Questions
CZ also addressed speculation surrounding Binance’s Secure Asset Fund for Users, known as SAFU. He reiterated that Binance had stated the conversion of SAFU reserves into Bitcoin would occur over a 30-day period.
He noted that such purchases would likely take place internally rather than through decentralized venues and said the timing of on-chain transfers may not reflect incremental buying activity.
The discussion followed comments CZ made during a recent AMA, in which he said he felt less confident than before about a Bitcoin supercycle but maintained that such an outcome remained possible. He raised uncertainty, cited global conditions and heightened sentiment, and warned against making financial decisions based solely on individual opinions.
Related: Changpeng Zhao Says Binance Will Not Conduct Major Sell-Offs Amid Market FUD
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Source: https://coinedition.com/cz-responds-to-binance-bitcoin-and-supercycle-fud-online/
