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Binance CEO Dismisses Forbes’ Accusations as Deliberately Distorted

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It is reported that CZ, the chief executive of Binance, said on social media that many of Forbes\’ accusatory questions are negative and deliberately distort th…

Binance CEO Dismisses Forbes’ Accusations as Deliberately Distorted

It is reported that CZ, the chief executive of Binance, said on social media that many of Forbes’ accusatory questions are negative and deliberately distort the facts. They mentioned some old blockchain transactions completed by our customers. They do not seem to understand the basic knowledge of the operation of the exchange. Our users can freely extract assets at any time. Their withdrawal turned into “hundreds of millions of transferred collateral”.

CZ: Forbes deliberately misinterpreted the facts and called user withdrawal “transfer collateral”

Interpretation of the news:


The recent allegations made by Forbes against Binance, one of the world’s largest cryptocurrency exchanges, have been dismissed by the platform’s CEO, CZ, as deliberately distorted and negative. CZ took to social media to respond to Forbes’ accusations, stating that many of the questions raised by the publication are based on distorted facts that are taken out of context.

Forbes’ accusations focused on Binance being involved in multiple money laundering cases and deliberately allowing US-based customers to trade on the platform, despite being banned by regulations. They also referenced old blockchain transactions made by Binance customers, claiming that they prove the allegations against the exchange.

However, CZ dismissed these claims, stating that the Forbes’ reporters have a lack of basic knowledge on the operations of cryptocurrency exchanges, and specifically stated that users are free to extract assets at any time. Withdrawals made by users have been distorted by Forbes into “hundreds of millions of transferred collateral”, which CZ called an exaggeration to push a false narrative.

Binance has been under scrutiny from regulators in recent months, forcing the exchange to move away from its decentralized roots in favor of more regulated offerings. This has led to criticism from the cryptocurrency community, with many alleging that Binance is no longer staying true to its decentralized ethos.

The current controversy, however, has highlighted the need for accurate reporting and unbiased research when it comes to cryptocurrency exchanges. CZ is not the first person to accuse Forbes of bias, and the publication has been criticized in the past for its coverage of various cryptocurrency events.

In conclusion, the allegations made against Binance by Forbes have been dismissed by the platform’s CEO as deliberately distorted and negative. CZ believes that the reporters behind the article lack basic knowledge of cryptocurrency exchanges, which has led to the creation of a false narrative. This incident highlights the need for accurate reporting and unbiased research when it comes to cryptocurrency exchanges.

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