The crypto market is full of oddities. Lack of regulation has allowed for meme coins, weird experiments, and more. As a result, nothing surprises cryptocurrency investors today.
However, there is a shocking story on WeChat claiming Binance CEO Changpang Zhao taken by the FBI. Here’s everything you need to know about possible fake news reports only in crypto.
Don’t worry, the CEO of Binance is SAFU
Pessimistic economist Nouriel “Dr. Doom” Roubini has called the CEO of Binance Changpeng Zhao a ticking time bomb, but no one would have expected “CZ” to literally come to the crosshairs of the FBI.
That’s what fake news stories are saying that can spread quickly on WeChat. The rumor suggested that Zhao was shot by the United States Federal Bureau of Investigation.
CEO of Binance the picture you sent from the New York Times China Twitter account that was allegedly photoshopped to include fake news stories. WeChat users had a field day with the misinformation, which got back to Zhao himself.
Zhao tweeted to clear the air and prove he was not shot by the FBI. He added that the Binance team is cooperating with US agencies, and that this story is definitely fake.
Binance Coin hasn't traded as favorably recently | BNBUSD on TradingView.com
Only In Crypto: Why People Think FBI Shot CZ
The United States Securities and Exchange Commission has put pressure on Binance and its partners for the stablecoin BUSD. Most recently, the SEC and the New York Department of Financial Services filed an opposition to the company’s US branch from acquiring bankrupt crypto lender Voyager.
So, the three-letter US agency hasn’t been on Binance’s best side in recent times, but that doesn’t mean the FBI will expose the unprovoked crypto CEO. However, the CEO of the cryptocurrency exchange is all angry in the public eye since FTX frontman Sam Bankman-Fried went from being pitched as the next Warren Buffett to being locked behind bars.
As the dominoes seem to be still falling in crypto and Binance has been called a “ticking time bomb” in the media, all eyes are on Changpeng Zhao to be the next big CEO to go down. Slip up, perhaps. But taken by the FBI? Only in crypto.