Binance CEO Gets Dragged by Bitcoin Fans for ‘Dumbest Crypto Tweet’

Samantha Chang @Samantha_Chang
August 17, 2019 18:00 UTC

By CCN Markets: Binance CEO Changpeng Zhao got dragged on Twitter and was nominated for the Dumbest Crypto Tweet Award after he shared a story touting the popularity of Binance Coin, his company’s native token.

Many of Zhao’s followers expressed skepticism when he recounted an “interesting interaction” he had with a 14-year-old boy. CZ claimed the boy refused to discuss numbers in U.S. dollars and instead “insisted on BNB numbers.”

CZ then used that alleged incident to conclude that “the next generation will be Crypto Native.” It was also a humblebrag that Binance Coin (BNB) is gaining traction. Not surprisingly, many bitcoin fans clapped back.

Crypto Twitter: ‘This never happened’

One Twitter account nominated CZ for the “Dumbest Tweet of Crypto Twitter” today.

Others on Crypto Twitter expressed disbelief that the incident ever happened.

One person joked that “I found a leprechaun dancing in a pot of gold at the end of a rainbow this morning.”

One crypto fan bragged: “The first words of my kid were literally: “Binance Chain is essentially a digital asset creation and exchange platform.”

Another retorted that his kid said: “Binance is old news, and being a registered securities exchange is the future!”

Several people joked that if CZ’s story had referenced bitcoin or even Ethereum, it might’ve been more credible.

For all the doubters, remember this kid?

A pretty good year for BNB

All jokes aside, Binance Coin is actually having a fairly good year so far. BNB’s price has gradually climbed over the past six months, and its trading volume enjoyed a healthy spike in May and June.

BNB fell this week, in tandem with the tumbling bitcoin price. However, in May, it was the most profitable cryptocurrency of the year at the time after scoring a sizzling 550% gain.

Binance Coin’s price is rising steadily this year. | Source: WorldCoinIndex

BNB outperforms bitcoin

Last week, Binance Coin was an outlier when it outperformed bitcoin and other top cryptocurrencies by surging 11%. That spike occurred despite hackers claiming to have obtained personal data from the Binance exchange.

As CCN reported, a hacker claimed that he had accessed users’ personal data from the Binance exchange. The company immediately denied the allegations. The hacker then circulated know-your-customer (KYC) images on a Telegram group.

In response, Changpeng Zhao quickly fired back, calling the leaks “FUD” (fear, uncertainty, and doubt).

In a statement, Binance shot down the rumors, saying it was merely an extortion attempt from a crazed hacker.

Binance also disputed the legitimacy of the images the hacker had shared online, citing the lack of proprietary watermarks. The exchange said the data probably came from a prior leak from earlier in the year that affected multiple crypto platforms.

Last modified: August 20, 2019 18:52 UTC