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Binance founder Changpeng Zhao (CZ) has issued a comprehensive statement regarding the “FUD” (fear, uncertainty, and doubt) content circulating on social media about the platform in recent days.
CZ responded individually to a number of issues, including the Polymarket allegations, the “supercycle” narrative, news of Bitcoin sales, and speculation surrounding the SAFU fund.
CZ stated that an event circulating on social media, allegedly reaching a $7 million volume on Polymarket related to Binance, was completely fake. Zhao argued that this event did not exist on Polymarket or any other prediction market, saying, “If there really was such a volume, I would have been the first to react.” The prediction market on Polymarket, asking “Will something be thrown in CZ’s face at a cryptocurrency event in 2026?”, was claimed to have reached a probability of over 80%.
CZ said the claim had excited some critics and worried some supporters, adding that the news was completely unfounded.
Zhao also responded humorously to claims that he had “canceled” the “supercycle” narrative, a frequent topic of discussion in the crypto market. Stating that he doesn’t have the power to control the markets, CZ reminded everyone of his previous statement where he only said he was “less confident than before.” He asserted that this statement was misinterpreted and that he has no authority to steer the market.
One of the issues CZ addressed most clearly was the claim that “Binance sold $1 billion worth of Bitcoin.” Zhao stated that this news was a misinterpretation, saying that it was not Binance that sold Bitcoin, but rather the platform’s users.
CZ argued that the exchange’s wallet balances only change when users withdraw assets, stating that most users continue to hold their assets on Binance after trading and use the platform like a wallet. Therefore, he emphasized that trading volume should not be confused with company assets.
Another point of contention was Binance’s plan to convert its SAFU (Secure Asset Fund for Users) to Bitcoin. CZ reminded everyone that it had previously been announced that the fund would be converted to Bitcoin within 30 days. He stated that this conversion was planned to be spread over a specific period, not all at once, and that it was natural for the funds not to appear on-chain immediately. He also added that Binance is a centralized exchange (CEX) and conducts transactions through centralized liquidity, therefore purchases would not appear on decentralized exchanges (DEX).
CZ also used a mathematical analogy to illustrate that purchasing approximately $1 billion worth of Bitcoin within 30 days would have a limited impact on the market capitalization of $1.7 trillion. He stated that this move was more of a gesture of confidence, and that its psychological impact on the market depended on investors’ assessment.
*This is not investment advice.