Binance Fights Back FUD Tsunami As BNB (BNB) Keeps Below Resistance

Binance’s CZ Tells Investors ‘Ignore Fud. Keep Building!’ as the Community Warns of Red Flags

Binance continues to endure a large amount of FUD (Fear, Uncertainty & Doubt). This is due to part of the crypto community not buying the Binance Proof Of Reserves, while others contemplate that Binance’s CZ deliberately took out competitor SBF of FTX, once the second largest crypto exchange.

Currently, Binance strikes back against these and 5 other claims with a long post in Chinese, pointing out the advantages of a “stress test”, while YouTube David Gokhshtein alleges that the FUDers, including Bitcoin (BTC) maximalists, are getting evidence “from fortune cookies”.

BNB Dumps 15.6% Amid Intense FUD

In addition, Binance regarded the piece by Reuters “U.S. Department of Justice launches investigation into Binance”, which Binance claims to have expected. Secondly, the halting of USDC stablecoin withdrawals was not because of lack of liquidity and the crypto giant is in “full cooperation with verification companies and judicial investigations” regarding their financial status.

Binance Smart Chain’s native token BNB (BNB) had to face the music of the frosty crypto winter, as the #5 ranked altcoin is 15.6% in the red for the last 14 days. Furthermore, crypto technical analyst Crypto Patel believes that BNB (BNB) might hit around $100 level, while the next critical support line is $210.

On top of that, BNB (BNB) couldn’t reclaim its key resistance line of $360 since May 8th, 2022 when the terrifying Terra (LUNA) spread a contagion on the crypto market. At press time, BNB (BNB) trades at $245.47, according to CoinGecko.

CZ VS. SBF: Clash Of Crypto Titans

As Sam Bankman-Fried is out on bail today for a generous amount of $250 million, the fallen FTX saga continues with the ex multi-billionaire now back to living with his parents & playing League Of Legends. The bosses of the two largest crypto platforms around the globe had constant verbal altercations on Twitter, with Sam Bankman-Fried blaming Changpeng Zhao for taking FTX out of the game.

Hence, SBF, who is being charged with conspiracy, securities fraud, and money laundering, puts the blame on one single tweet from Binance Boss CZ to have destroyed a multi-billion dollar crypto empire. CZ quickly fired back at SBF on Twitter on December 6th, 2022: “No, FTX destroyed itself”.

Binance is the largest crypto platform in the world, while Binance Smart Chain technology heavily contributed towards public crypto adoption.

Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.

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