The post CZ Shuts Down $300M Binance Bitcoin Rumor appeared first on Coinpedia Fintech News
A social media post claimed Binance earned 60,000 BTC by shorting Bitcoin on BitMEX ahead of the March 2020 Black Thursday crash. Binance co‑founder Changpeng “CZ” Zhao dismissed it as fake news, stating Binance never traded on BitMEX and there’s no proof or official record of such activity. He also noted BitMEX’s withdrawal system wouldn’t support a huge single exit. Most in the crypto community called the rumor baseless FUD, with no evidence offered to back it.