Binance CEO Reveals Reasons For FUD Against Exchange

December 24, 2022

Story: Divya Sinha

Binance CEO Changpeng Zhao in a series of tweets reveals the reason for FUD against the exchange.

Zhao mentioned that the industry hates centralization, regardless of CEX helps with crypto adoption at a faster rate.

He then detailed that some may also lose money on trading and can directly blame them.

Zhao in the thread wrote that some industry players view Binance as competition and they are lobbying against them.

He detailed that some media are paid for FUD and are wholly "owned" by "competitors".

He also wrote about crypto adoption saying that it has not reached mass adoption yet and is probably less than 5% globally.

Summing it up, Zhao lastly wrote there is no absolute right or wrong for most of the above and welcomed his followers for feedback, but asked to ignore FUD.