Key Takeaways
- Binance’s native token, BNB, hit a new all-time high of $1,214.
- CZ admitted he spends more time on X than on Binance Square.
- The comments have drawn sharp parallels between how founders operate within their own ecosystems.
BNB, the native token of Binance, surged to a fresh all-time high on Monday, while founder Changpeng “CZ” Zhao stirred debate after admitting he personally prefers using X over Binance’s own social platform, Binance Square.
BNB Reaches a New Record
On Monday, Oct. 6, BNB traded as high as $1,2190, marking a new all-time high, according to CoinMarketCap data.
The coin saw an increase of approximately 3.47% in the past 24 hours.
BNB’s Total Value Locked (TVL) also rose from $7.58 billion on Sept. 27 to $8.69 billion as of Monday, its highest value in over three years.
Meanwhile, the wider derivatives markets saw $256 million in liquidations, roughly $177 million in long positions and $79.11 million in shorts, according to Coinglass data.
CZ’s X Confession
The growth coincided with Binance founder CZ surprising followers this week by candidly admitting that he spends more time on X than on Binance Square, the exchange’s in-house social platform.
Launched in 2023 as part of Binance’s push to create a social hub within its trading ecosystem, Binance Square recently announced it had reached 275 million users.
CZ’s comments on X have sparked questions about why the founder would not be active in his own ecosystem.
Listing a “few reasons I use X more than Binance Square,” CZ said:
“I like to stay logged out on Binance.com when not making a transaction, as a security policy. I go on for months without logging in.”
The comments received mixed reactions, with one X user claiming,
“When the founder doesn’t use his own product, there’s something fundamentally wrong with it.
“Change the product until you want to use it. If logging out of Binance is the reason, change the product to fix that.”
X for Crypto
CZ also noted that he likes to use X to reach the “non-Binance community,” highlighting the platform as the center of broader crypto discourse.
A 2023 research report from the Johannes Gutenberg University of Mainz in Germany found a strong correlation between crypto opinion leaders’ tweet activity and Bitcoin price movements.
“It is remarkable how closely their communications correlated with Bitcoin price performance, despite the fact that they were using differing communication strategies,” scholar Endrit Ademi wrote.
CZ’s comments contrast sharply with Elon Musk’s activity on X.
Since acquiring Twitter in 2022 and rebranding it as X, Musk has become one of the platform’s most frequent posters, using it to announce product changes, discuss politics, and shape narratives around Tesla and SpaceX.
CZ concluded by saying he will “maybe” switch back to Binance Square in the future.
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
