- Battling FUD
- A $1 billion fund
Binance founder Changpeng “CZ” Zhao has taken aim at vociferous cryptocurrency inventors and investors who harass industry leaders over asset prices.
In a recent social media post on the X social media network, he claims that Ethereum co-founder Vitalik Buterin has reduced his social media presence due to this exact reason.
He claims that Buterin’s relatively quiet presence on one of the most popular social media networks is actually “a net negative” for the Ethereum community.
“Remember how people complained about Vitalik because of the ETH price? And now he is much quieter on X,” CZ wrote. “I think that’s absolutely a net negative for the ETH and crypto community, and the complainers’ own bags (even if they don’t hold ETH).”
Battling FUD
The commentary emerged during a broader discussion about “FUD” (fear, uncertainty, and doubt) attacks directed at Binance.
When a user pointed out that critics would likely blame CZ even if Bitcoin dropped slightly from a theoretical $1 million valuation, CZ drew the parallel to Buterin.
“Been receiving FUD attacks since day 1,” CZ stated earlier in the thread, promising to address the latest concerns in an upcoming AMA.
As reported by U.Today, the Binance boss has repeatedly predicted that Bitcoin (BTC) would eventually hit $1 million.
A $1 billion fund
In the meantime, Binance has announced it will convert the entirety of its $1 billion Secure Asset Fund for Users (SAFU) from stablecoins into Bitcoin (BTC) over the next 30 days.
The move is meant to give a helping hand to the market that is currently struggling to find its footing following Bitcoin’s plunge below $82,000.
Source: https://u.today/cz-reveals-why-vitalik-not-active-on-x
