Binance CEO Calls Out Crypto Writer for Publishing Fake News

  • The CEO of Binance CZ has called out CoinGape for publishing a factually incorrect article.
  • “Another wrong article,” said CZ as this is the third in a string of crypto articles that published erroneous news about him.
  • This particular article stated that Binance bought 100,000 BTC tokens; but Binance refuted the claim.

CEO of Binance, Changpeng Zhao, better known as CZ, has accused crypto news outlet CoinGape of publishing an incorrect article about Binance. “Another wrong article,” said the tech billionaire in a Twitter post. “When Binance cold wallet increases, it means more users deposited to Binance. This journalist doesn’t seem to under the concept of cold wallets for exchanges.”

“Amid this crash, the world’s largest crypto exchange bought nearly 100,000 BTC tokens,” reads the controversial news article posted on the CoinGape site yesterday. “The exchange used a Bitcoin wallet with number 44434365 for this transaction. It is a cold storage wallet according to the bit info charts website.”

The writer goes on to say that this transaction raised the liquidity of the token with the exchange. “The total liquidity between the two is up to 874 according to coinmarketcap’s data,” explains the post. The journalist then adds that this is not the first time that Binance has brought BTC tokens at the dip. “Back in January, the exchange brought around $43,000 tokens to its wallet.”

Twitterati responded with comments such as “I think they understand the concept, but they tried to create news,” and “I fail to understand how some write-ups even pass through editorial.” A writer from another news outlet tried to make most of the opportunity by asking Binance to follow them instead. Surprisingly, Binance followed the outlet almost instantly.

The article in question, titled “Binance Buys the Dip, Adds 101,266 Bitcoin,” was written by CoinGape’s internal writer. And this is supposedly the third in a string of fake news written about Binance in the past few days.

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