Bloomberg: Binance founder CZ has appeared in Seattle court
According to Bloomberg Terminal information on November 22, Binance founder CZ appeared in a Seattle court. As previously reported by BlockBeats, US regulators today imposed a $4.3 billion fine on the world's largest cryptocurrency trading platform Binance. Founder CZ agreed to resign and plead guilty, and will not be allowed to hold executive positions at Binance, but will still retain the majority of Binance's equity. CZ will also personally appear in federal court in Seattle on Tuesday afternoon to plead his case.
Forbes: CZ considering resigning after criminal investigation ends
According to Forbes, Binance founder and CEO CZ is discussing resigning after the criminal investigation is over.
CZ: In 2014, I sold my house and bought all cryptocurrencies, and only founded Binance in 2017.
According to a post by user X@VT_BNB on Odaily Star News, it is certain that Binance founder CZ did not have a smooth sailing when seeking investment and institutional financing in the early days of Binance, otherwise he would not have had to sell his house in Shanghai. CZ stated that he sold his house and went all in on crypto in 2014, and only founded Binance in 2017.
CZ: Client executives were extorted from wallets worth $12.5 million and have helped freeze nearly $11.8 million
Binance CEO Zhao Changpeng (CZ) posted on X platform that an executive of a customer was deceived to go on a "business trip" to Montenegro, where they were kidnapped and forced to empty their wallets, with a total loss of about $12.5 million. We investigated the on-chain activity and contacted our partners earlier today to freeze the wallet, as all funds were transferred to a Tron wallet in the form of USDT. We successfully froze about $11.8 million of the stolen $12.5 million. This is a true story. Please stay SAFU.
CZ: Poloniex hacker funds will be ready to help if they flow to Binance
CZ, the founder of Binance, posted on social media that there are many details about the Poloniex hack that are still unknown. We hope that this issue can be resolved as soon as possible, and if any funds flow to us, we are ready to provide assistance at any time.
Changpeng Zhao: The biggest limiting factor in crypto adoption is wallets
Binance founder Zhao Changpeng stated at the 2023 Istanbul Binance Blockchain Week that the biggest limiting factor for the adoption and growth of cryptocurrency technology is actually the wallet. Currently, there is a lack of super user-friendly Web3 wallets in the market. Binance Web3 Wallet will provide services in a secure and simple way.
CZ: “Doctor Doom” used the Binance Logo without permission after issuing the currency
On November 7th, Binance founder CZ posted on social media, "Some people are really shameless. After attacking Binance in public a year ago, now they have issued a token and placed Binance's logo on their website without permission."
The image shows that the co-founder of this project is "Dr. Doom" Nouriel Roubini.
CZ: The suspension of withdrawals is affected by technical issues with the middleware service. Funds are safe.
CZ posted on X platform stating that the suspension of withdrawals was due to technical issues with middleware services. The funds are safe and the Binance team is working hard to fix the problem. Earlier, Binance announced on X platform that they had encountered technical issues with cryptocurrency withdrawals. Therefore, it is temporarily unavailable while our team is working on fixing it. Fiat currency withdrawals are available and operating normally. All user funds are safe.
CZ: Binance had a hardware failure today and it only took 10 seconds to resolve the issue
On October 17th, Binance founder CZ posted that "Earlier today, our activity matching engine experienced a hardware failure, causing the server to immediately stop and crash. Our matching engine automatically switched to the backup system within 10 seconds. Other than the 10-second delay, there were no issues.
Normally, this type of failure would result in hours of downtime and a large number of event progress tweets. But now it only takes 10 seconds."
Former Alameda CEO: Changpeng Zhao’s tweets “contributed” to FTX’s collapse
Former CEO of Alameda Research, Caroline Ellison, testified that a tweet from Binance CEO Changpeng Zhao (CZ) caused the collapse of the cryptocurrency exchange FTX. In the tweet on November 6, 2022, CZ announced that Binance would liquidate its holdings of FTX tokens (FTT). Many reports claim that the liquidation of the tokens caused retail investors to follow Binance in withdrawing from FTX. The platform's run on withdrawals led to FTX ceasing withdrawals and filing for bankruptcy on November 11th.
Ellison stated that while CZ's tweet "contributed" to the collapse of FTX, the main reason was that Alameda borrowed 10 billion US dollars from the exchange that they were "unable to repay".
