FUD reasons behind Binance according to Changpeng Zhao (CZ)

Fear, but why? – The CEO of Binance, Changpeng “CZ” Zhaoreacts to FUD his company is currently undergoing. I quote 9 reasons that were pushing individuals and businesses to take on the crypto exchange.

Binance too centralized and with too many bugs in the eyes of some

In a series of tweet of December 24, Changpeng Zhao listed the potential factors that explained the FUD around Binance since a few weeks. This feeling of fear, uncertainty, and doubt would be due to extrinsic factors at the crypto exchange.

The first reason would be related to centralized character of Binance and the fact that part of the crypto community hates centralization and centralized exchanges (CEX), even, paradoxically, the latter sometimes contribute to a faster adoption of cryptocurrencies.

CZ then referred to the case of people who “Lose money while trading” or who encounter other problems, and who would then blame and attack Binance. He took the example of a platform user who cannot access his account because his router is experiencing difficult problems. “to diagnose or prove”.

This person may believe that their access problems are Binance’s fault, while other users log into their account and during the relevant period, the monitoring system of the crypto exchange does not detect any exceptional situation – file waiting, traffic overload, …

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CZ also attacked some medias and competitors who did “extraordinary efforts to exert pressure” on the crypto exchange. To achieve this objective, these competitors would lend large sums to small media and would even go so far as “buy the houses of their CEOs”.

Media would be like this paid to denigrate Binance, while others are owned by competitors. Some have also reportedly become hostile to the crypto exchange, as they believe Binance has cut off their sources of funding – the media that lost significant amounts following the fall of FTX?

Nevertheless, some media criticize Binance for other reasons, which are not personally related to the crypto exchange. Changpeng Zhao talked about the media case with “a more traditional readership » and who then “tendency to align” from the perspective of their audience.

The CEO of Binance has also pointed out that theadoption of cryptocurrencies probably amount to less than 5% in the world, and that many people are like this “still skeptical” towards cryptocurrencies.

This conservative mentality and the resulting bellicose behavior also concern politicians and policy makers, who are not all progressives and who “wants to protect their banks”.

Generalization, racism and click hunting at Binance

Towards the end of his Twitter thread, Changpeng Zhao chained himself up with various reasons, which explained this FUD targeting Binance. The company would be the victim of a certain form of generalization.

People funded only if a centralized cryptocurrency exchange is ” Wrong “then all the other platforms are too – the collapse of FTX has also created a crisis of confidence between CEXs and their users.

The CEO of Binance also indicated that people can be “jealous or just plain racist of Canadians of Chinese appearance”. The company and its founder have also been accused of having links with the Chinese government. Claims that CZ has always rejected.

And finally, the great patron of Binance indicated that the fact ofwrite on a major crypto exchange – for good or bad reasons – can bring more clicks – and therefore traffic to monetize – to a website.

The criticisms leveled at Binance have already caused massive withdrawals on the platform. This relatively long point of Changpeng Zhao Will it allay the concerns of most traders and investors in the current environment?