U.Today – Changpeng Zhao, widely known in the cryptocurrency community as CZ, co-founder and former CEO of Binance, the largest cryptocurrency trading platform, has taken to his account on Platform X to address those who did not believe on the future of Bitcoin or followed the public advice of skeptics.
CZ mentions Bitcoin skeptics as BTC hits new ATH
Earlier today, the global flagship cryptocurrency Bitcoin skyrocketed to set a new all-time high, reaching the $89,956 level. This price was reached as a result of an increase of almost 10% over the last day.
In his tweet, Changpeng Zhao shared a link to the “Notable Bitcoin Skeptics Database” called “Bitcoin is Dead.”
“If you believed any of these guys, then… blame yourself,” the former Binance boss tweeted.
CryptoQuant founder Ki Young Ju reminded CZ of his previous tweet in the comments: In 2019, CZ tweeted: “Slap yourself if you sold $BTC for less than $10,000.”
On Saturday, CZ also commented on the BTC high reached that day, which was $77,252. Back then, Zhao warned that investors and hodlers should “control their greed.” He said that in the near future BTC is likely to demonstrate multiple new highs and pullbacks, and advised the community to “apply appropriate risk management.”
It's important to be able to handle those future ups and downs. “Don't put all your eggs in one basket,” he said.
FTX sues Binance and CZ for $1.8 billion
As reported on Monday, non-functional crypto exchange FTX and its current management team filed a lawsuit against Binance and Changpeng Zhao. The lawsuit was filed in hopes of recovering $1.8 billion from Binance and CZ that FTX alleges “was fraudulently transferred by Sam Bankman-Fried,” according to Bloomberg.
CZ and several other Binance executives received the money transferred as part of the repurchase agreement with SMF in July 2021. That $1.8 billion transfer was obtained to sell approximately 20% of the FTX international platform and 18.4 % of FTX's US-based branch SBF paid for those shares with a combination of FTT, BNB, and BUSD tokens. Since the filing claims that FTX and its trading company Alameda Research were insolvent at the time, the buyback was fraudulent. Furthermore, FTX accuses CZ of posting misleading tweets about FTX before the latter collapsed in November 2022.
This article was originally published on U.Today.
