Binance CEO Changpeng Zhao (CZ) has rubbished rumors that he was shot by the police in the United States. In his most recent tweet, the Binance boss clarified that the news was just a rumor and he is in perfect health and condition. The news first appeared on WeChat, a messaging app used by the Chinese, and has since spread to other websites.
Binance CEO dispels the rumor
According to CZ, nothing of such happened and he maintains that he has a very solid working relationship with the bureau. After he made the tweet, he reiterated that users should always take into consideration the number 4 that he highlighted in a previous tweet. In the previous tweet, the Binance boss warned traders to ignore any attempt to spread fear or doubt across the market.
He also warned traders to ignore all news that does not emanate from the official source like the fake news that is being peddled. Asides from these, he also told them to ensure they get educated and comply with authorities. CZ spent most of the whole day dispelling the rumors across Twitter, quoting and replying to tweets asking him about the authenticity of the news.
Analysts wants CZ to do a proof of life
Analyst Harry Dunley has given his two cents about the news, mentioning that it is common practice in the crypto market. He made an example of the fake news that went around in 2017 about the death of Ethereum boss Vitalik Buterin in a car crash. Dunley mentioned that the news was a failed attempt by some entities to manipulate the market by driving fear across the demography of traders on the Binance exchange. He advised that CZ should show traders proof of life very soon to ensure that these bad actors do not win.
Binance announced last year that it had recruited new personnel to help the company deal with illegal activities on the platform. The executive, BJ Kang, has been lauded for his role in arresting one of the leaders of the notorious crime syndicate in a Ponzi scheme. CZ has also received a letter from authorities in the US to provide information about the United States arm of the company. The authorities mentioned that the limited information that they have on the exchange suggests that criminals have been using the exchange for various illegal activities.