As criticism of Binance spreads... Changpeng Zhao: “I’ve been subjected to baseless attacks; I’ll address it in detail in an AMA”

With the digital-asset market remaining in a prolonged downturn, criticism in the industry has been building toward the world’s largest exchange, Binance, and its founder Changpeng Zhao (CZ). Zhao is expected to respond personally.

On the 30th (Korea time), Zhao wrote on X (formerly Twitter): “This isn’t the first time, and it won’t be the last. I’ve continued to receive baseless attacks. I’ll address it in detail in an AMA (Ask Me Anything, Q&A).” His remarks appear to come as criticism of him and Binance has recently been spreading across social media (SNS).

Among digital-asset investors, there has been a view that Binance, the world’s largest exchange, bears responsibility for the fallout from last year’s Oct. 10 plunge, which triggered a historic wave of forced liquidations in futures positions.

In particular, on the 29th, OKX Chief Executive Officer (CEO) Star Xu wrote on X that “some companies (implying Binance) are obsessed with ‘short-term profits,’ repeatedly listing Ponzi-scam-like projects or intentionally manipulating the prices of low-quality tokens.” Ark Invest CEO Cathie Wood also fueled the controversy in a recent interview, saying the Oct. 10 plunge “was the result of a software issue at Binance that led to roughly $28 billion (about 40 trillion won) in forced liquidations.”

Zhao appears to have pushed back with this in mind, saying: “While ‘self-proclaimed’ competitors focus on us, we will continue to build products and grow.”