- Binance CEO Changpeng Zhao downplayed user concerns, arguing that external factors are driving fear, uncertainty and doubt in BNB and the exchange.
- Binance, the world’s largest exchange, witnessed a spike in customer withdrawals since the weekend.
- Rumors surrounding allegations of money laundering, drug conspiracy cases and insolvency have resulted in massive withdrawals from the exchange.
Binance CEO Changpeng Zhao believes that external factors are creating fear, uncertainty and doubt (FUD) among the exchange’s users and BNB holders. Binance, the world’s largest exchange by volume, has been experiencing a massive rise in withdrawals from its platform, amid concerns of money laundering.
Binance CEO Changpeng Zhao addresses FUD surrounding the exchange
Binance, the world’s largest exchange by trade volume, has been surrounded by controversies since the collapse of Samuel Bankman-Fried’s FTX exchange. Binance has witnessed a spike in withdrawals, including a 24-hour window where $3 billion worth of cryptocurrencies left the exchange in the past month.
Changpeng Zhao, CEO of Binance addressed user concerns and said that the recent wave of FUD has come from external factors. The executive shared nine potential reasons for the uncertainty in a Twitter thread and argued that external factors are driving the fear among investors that are withdrawing funds from the exchange.
Forbes recently reported that Binance is currently under investigation for money laundering. At the same time, the crypto exchange assisted the US Drug Enforcement Administration in a drug conspiracy case. The platform was used for money laundering by an illicit drug distributor and Binance cooperated with law enforcement, assisting the investigation.
Twitter and social media platforms are flooded with rumors of Binance’s insolvency.
Binance and CZ are currently navigating allegations of money laundering
A recent development revealed that the crypto exchange CEO sent out personal emails to each client and addressed the FUD surrounding Binance. However, despite the reassurance from the exchange platform and the CEO, the number of hacks and exploits on the BNB chain could pose a challenge for users to trust the platform and its native token. BNB is currently trading at $243. The token wiped out 12% in gains for holders over the past two weeks.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

AI Tokens Price Prediction: Story, Virtuals Protocol rebound following sell-off after US strikes on Iran
Geopolitical tensions in the Middle East caused a liquidation havoc of over $1 billion in the cryptocurrency market over the weekend, following US President Donald Trump’s direct involvement in the conflict between Israel and Iran.

Crypto Today: Bitcoin, Ethereum, XRP flash recovery signals after rollercoaster weekend
The cryptocurrency market is gearing up for recovery following a geopolitical tension-triggered sell-off over the weekend after the United States (US) struck Iran's nuclear sites in support of Israel's campaign.

Quant Price Prediction: Award-winning payment platform eyes bullish reversal
Quant edges higher by 1% so far on Monday, after winning the Best Programmable Payment Platform at the Future of Finance Awards. The optimism surrounding Quant grows in the derivatives market, evident with the QNT Open Interest spike.

Bitcoin Price Forecast: BTC rebounds to $102,000 as MetaPlanet buys the dip, geopolitical fears linger
Bitcoin (BTC) price rebounds slightly, trading around $102,000 at the time of writing on Monday after dipping to $98,200 the previous day. Institutional investors further supported the price recovery as MetaPlanet added 1,111 BTC to its treasury reserve.

Bitcoin Weekly Forecast: The calm before the storm
Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.