CZ Immediately Denied The CFTC's Allegation
Key Points:
Immediately after the newspapers were flooded with bad news related to him, CZ posted a tweet on Twitter with only one digit: “4.”
The 4 goals set by CZ in 2023 include: Education, Compliance, Product & Service and Ignore FUD, fake news, attacks, etc. This implies rumors, FUD, fake news related to the world’s leading exchange Binance. In addition, he also reiterated:
“In the future, would appreciate if you can link to this post when I tweet 4.”
According to reports, the CFTC has been investigating Binance since late 2021 for allowing US consumers to trade crypto futures without registering with the agency. The CFTC complaint contains many internal Binance that plainly disclose that the exchange letters have executed transactions for US-designated terrorist groups such as Hamas. Moreover, the committee charged Binance with running its own trading unit of 300 accounts, either directly or under the supervision of Changpeng Zhao.
In the complaint, the CFTC reiterates its view that Bitcoin, Ethereum, Litecoin, and the two stablecoins USDT and BUSD are “commodities,” in opposition to the Securities and Exchange Commission’s securities perspective.
After the news, the entire market crashed. BNB is the hardest hit, currently trading at $315.
Earlier, Binance was the subject of a US Department of Justice money laundering investigation, as well as an order from the Securities and Exchange Commission (SEC) to halt issuing stablecoin BUSD using Paxos.
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