- Zhao sets the record straight on Binance’s proof-of-reserves timeline, calling delay concerns pure misinformation.
- Community reacts as CZ labels critic’s claims an attempt to stir fear and spread crypto FUD.
- Former Binance CEO stays active, backing BNB and addressing Ripple, Bitcoin dismissal in recent online posts.
Binance founder and former CEO Changpeng “CZ” Zhao has responded to criticism over the delayed release of the platform’s monthly proof-of-reserves report. According to Zhao, claims suggesting deliberate withholding of the data are false and intended to spread fear, uncertainty, and doubt.
He clarified that Binance always takes a snapshot of customer balances on the first of each month. Subsequently, the team will review it, and the report is typically issued on the fifth or sixth day.
Zhao indicated that this schedule has been the same and requested critics to review previous publications before implicating the exchange on transparency issues.
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In his post on X, Zhao approached a user who wondered about the delay, insinuating that something was awry. Zhao responded by rejecting the allegation and referring to it as a way to panic the crypto community once again. He further stated that this kind of misinformation is bad, and users should fact-check before sharing unverified things.
Zhao’s clarification was positively received by some supporters of the Binance community, with some commending his ability to speak up about the matter.
Nevertheless, some people sensed that the previous CEO needed to cease paying attention to those critics because this attitude could stimulate more groundless accusations. Although opinions may be divided, Zhao’s actions show that he is keen on updating Binance users with important details.
Zhao Defends Binance and Calls for Responsible Commentary
Zhao’s response is part of his broader effort to maintain transparency and defend Binance’s reputation in the digital asset space. Recently, he also commented on Nano Labs’ decision to raise $500 million to purchase Binance Coin.
He said that the action was a clear green flag of confidence in BNB and observed that now the company is a BNB-only strategic reserve.
Besides, Zhao has criticized remarks that have declared popular cryptocurrencies such as Ripple and Bitcoin as irrelevant. These examples reveal that despite the CEO’s resignation, he is still active in fighting misinformation and encouraging fact-based discussion in the crypto world.
Zhao’s recent statements arrive at a moment when the issue of transparency may easily become out of control. His explanation has contributed to strengthening Binance’s presence regarding their regular proof-of-reserve behaviors and countering the use of narratives that tend to delude people.
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