Following Voyager Victory, CZ Reaffirms FUD is Temporary

“Protect Users. Build and build. FUD is temporary,” claims Binance’s Changpeng Zhao in his latest Tweet. Also tagged in this post are screenshots of clips from a Reuter’s article on the US. Bankruptcy judge approving Binance.US’s $1.3 billion deal for Voyager Digital. Zhao’s remark stands in tandem with the various attacks on Binance.

Reuters, which has always locked horns with Binance over several of its anti-Binance reports, states in this March 7 article that the bankrupt crypto lender Voyager Digital received court approval on Tuesday to sell its assets and transfer its customers to Binance.US. This particular deal was valued at $1.3 billion and will allow the trading platform to settle up to 73% of its current debt.

Meanwhile, the Securities and Exchange Commission (SEC) was opposed to this deal, claiming that investigations against Voyager were still underway and that the lender could not prove that the deal complies with US Securities law. These remarks however drew sharp criticism from the US bankruptcy judge that presided over the case.

Binance has had a difficult few weeks ever since the New York Department of Financial Services ordered Paxos Trust Co., which issues and lists Binance’s dollar-pegged cryptocurrency, to stop creating more of its BUSD token. This predicament was worsened when Paxos cut ties with Binance and Coinbase announced the delisting of BUSD.

Just yesterday, Zhao responded to a WSJ news article that claimed its reporters had uncovered texts wherein Binance divulged plans to neutralize US authorities. To these allegations, he responded by asking his followers to ignore the FUD and fake news.

With millions of users, Binance, under Zhao, is the current undisputed giant of the crypto world; and it is perhaps for this reason, that it has become the target of the latest string of regulatory attacks. Despite the relentless scrutiny it is now under, and the mounting pile of allegations, CEO Zhao does not seem to lose hope.