CZ Accuses FTX of Paying $43 Million to News Media to Carry the Binance FUD Story
A report reaching our desk says that the Binance CEO is directly getting involved in the recent saga that implicated his company. Binance has been on the news this past week for the wrong reason. But things started taking a new turn when Changpeng Zhao: the Binance CEO himself, decided to get involved directly.
According to Mr. Zhao, who indicted FTX in his latest statement, he appeared on the Twitter Space platform to accuse the company (FTX) of paying a huge amount to major news media to carry the latest Binance FUD story.
Mr. Zhao, while speaking on Space, said that the cryptocurrency company and a major competitor had paid a sum of $43 million to top cryptocurrency news media companies to broadcast the Binance FUD story. He revealed that that was the reason behind the series of negative content seen on most of these media platforms last week.
Changpeng Zhao, popularly known as “CZ,” disclosed that short-position traders use this trick to gain more profitable trade. And while commenting on the claims of some famous crypto critics, especially Schiff Peter, who has been the major critic since the news made it to the public. Zhao said he doesn’t blame critics’ like Peter because they have been acting on wrong information; Zhao was quoted as saying, “they don’t get it’s…”
And when asked whether he paid attention to the negative reportage during this period, his response was affirmative. He also further said that he doesn’t expect these negative publicities to stop and assured their customers that such distraction would never affect their operations.
While assuring their customers of continued efficient service delivery, he appreciated those who went against the popular trend to judge them fairly. Zhao also went ahead to reaffirm his confidence in their customers, saying that they are no longer moved by what he referred to as “Click Bait” topics – he was also heard telling the interview that the customers are “smarter now…”
In another development, Zhao, during this session, took some questions from the audience that bothers around Binance and AI. At this time, the Binance CEO, for the first time, revealed that AIs handle 75% of the company’s customer service unit.
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