Changpeng Zhao, the esteemed founder and CEO of Binance, recently took to Twitter to share a mysterious message that has left his supporters and detractors in a state of frenzy. The mysterious tweet, which reads “Remember 4,” has sparked a flurry of reactions and speculations among users, with many suggesting that it may be linked to a previous post by Zhao.
Last week, Zhao, the CEO of Binance, shared a list of essentials, Dos, and Don’ts to simplify the year 2023. Along with education, compliance, and product and service, Zhao ignored FUD (Fear, Uncertainty, Doubt), fake news, and malicious attacks. Many users speculate that this fourth point directly references recent negative press surrounding Binance. Through this cryptic tweet, Zhao may be urging Binance users and supporters to disregard unfounded rumors and instead focus on the company’s continued success.
Binance has recently faced a series of challenges from the directive issued by the New York Department of Financial Services to Paxos Trust Co., the issuer and lister of Binance’s dollar-pegged cryptocurrency, to halt the production of additional BUSD tokens. This development has triggered a flurry of speculation and negative comments about the BUSD issuer and Binance.
Attorney Collins Belton has shed light on the true impetus behind the New York regulator’s recent assault on Paxos. The alleged lack of reserves to fully support the BUSD crypto asset drove the crackdown on Binance. The repercussions of this action were far-reaching, as Paxos subsequently severed all ties with Binance. In a further blow to BUSD, Coinbase announced its delisting, causing the market capitalization of the flagship stablecoin to plummet to $9.5 billion. These developments underscore the importance of maintaining adequate reserves to ensure the stability and credibility of the crypto market.
The Wall Street Journal has recently released a report alleging that Binance, concerned about potential legal repercussions, embarked on a strategy to counteract U.S. authorities. The publication reviewed messages and documents from 2018 to 2020 and conducted interviews with former employees. In light of these accusations, Binance CEO Zhao may have issued a brief response via a two-word Tweet.
