- Changpeng Zhao says a wave of criticism after his “buy and hold” post is a “coordinated attack.”
- He defended his original post and called some responses “twisted FUD.”
- Several social-media posts accused Binance and Zhao of fraud, manipulation and even called them “terrorists of crypto.”
- Cathie Wood and Star Xu cited Binance’s Oct. 10 incident involving Ethena’s USDe as causing lasting industry damage.
- Binance executives responded publicly while co-CEO Yi Hi used the moment to post a job advertisement.
Changpeng Zhao, the former CEO of Binance, said this week that a burst of negative posts aimed at him and the exchange was a “coordinated attack” after he posted what appeared to urge users to “buy and hold.”
Zhao wrote on X that “Lots of accounts I don’t recognize suddenly tweet roughly copy and paste on the same topic,” and he later posted a clarification calling some responses “twisted FUD.” Both messages are on his X account: the coordinated-attack comment is at this post and the clarification is at this post.
Others on social media echoed suspicion about timing and motives. World Liberty Financial co-founder Zach Witkoff said the coordinated nature of the criticism was notable in his post. An article shared on X claimed Zhao and Binance were “terrorists” of crypto; that piece was linked in this post and has been described as largely generated by ChatGPT with no sources cited.
Other accounts posted sharper accusations. One account called Zhao a “scammer”, some urged a boycott of Binance, and another labeled him crypto’s “biggest scammer.” Analytics showing Binance Futures tokens down on average 80% were shared in a separate post, and a related market thread can be seen in this tweet.
Industry figures also referenced the Oct. 10 trading disruption tied to Ethena’s synthetic dollar, USDe, and the wider impact on crypto markets. Cathie Wood discussed those “reverberations” in her Fox News interview, available at this video. OKX CEO Star Xu reposted Wood’s segment and wrote, “People have underestimated the impact of 10/10. The incident caused real and lasting damage to the industry,” in his post.
A technical term: “de-pegging” means a stablecoin or synthetic dollar losing its intended fixed value, which occurred with Ethena’s USDe on Binance. Meanwhile, Binance co-CEO Yi Hi used the surge of criticism to promote a job listing in this post.
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