JAKARTA Changpeng Zhao, CEO of Binance, issued a statement regarding the issue of FUD (fear, uncertainty, doubt) in the current cryptocurrency industry. According to Zhao, bad news might be made by other exchanges, and shouldn't be attacking each other, the crypto industry should unite.
Zhao emphasized the importance of cooperation and mutual support between businesses, especially during difficult times. He also mentioned that Binance will continue to support global adoption of cryptocurrencies and blockchain technology. Zhao's statement comes amid various FUD issues that appear on social media and news media related to Binance and cryptocurrencies in general.
Some examples of the FUD issue circulating are allegations that Binance is involved in money laundering, that Binance does not have an operating permit in some countries, and that Interpol issued an arrest warrant for Zhao. These issues have caused anxiety and distrust among cryptocurrency users and investors.
In essence, although the FUD has recently created concerns in the industry, Zhao's statement serves as a warning that it is important to stay united and focus on a greater goal of advancing crypto adoption and blockchain technology.
This reflects a wider problem in the cryptocurrency industry, where exchanges and other actors often attack each other, sometimes fueled by competition and personal interests. However, this strategy actually weakens the industry as a whole and adds to unnecessary conflicts.
"The latest FUD messaging is only spread by encrypted news media and KOL, and is likely to be implanted/sponsored by other exchanges," Binance CEO Changpeng Zhao wrote on April 4. "This stingy strategy is detrimental to both industry and themselves. There are too many outside forces attacking us, and our sector must unite at this point."
Responding to a Twitter report that "The Interpol issued a red notice for Changpeng Zhao," a Binance representative stated in an email that "this rumor is not true." Changpeng Zhao also responded on Twitter, claiming that the arrest warrants spreading across the Internet were falsified images and suggesting users block sources spreading misinformation.
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