On January 18, Binance founder CZ publicly denied the rumors of dating actress Sydney Sweeney on Platform X, stating that he has "never met" her, and lamented that it is becoming increasingly difficult to discern the truth of information—if one can master this ability, "you will be richer." This seemingly entertaining gossip actually reveals a pressing social issue in the age of social media: how rumors exploit group psychology to spread and cause real harm.
The Crowd: A Breeding Ground for Rumors
Le Bon pointed out in (The Crowd) that individuals in groups are easily suggestible, gullible, and amplify information, with reason being replaced by emotion. The rumors of CZ and Sydney Sweeney's relationship are a typical product of this kind of psychology—no evidence is needed, just the dramatic combination of "crypto big shot + Hollywood star" is enough to stimulate the group's imagination and desire to spread. With the help of algorithms, such rumors quickly escalate from "niche gossip" to "public discourse," forcing the parties involved to pause their important matters and publicly clarify.
The overlooked dual cost
Invisible harm to the parties involved
Rumors seem 'harmless,' yet they infringe on individual dignity and privacy. CZ, as a public figure, should have his commercial reputation and personal image built on professional achievements, not tabloid news. Sydney Sweeney similarly finds herself unjustly caught up, becoming a symbol in someone else's narrative. This objectification and invasion of privacy dissolve their complexity as independent individuals.
Silent consumption of social resources
Every instance of rumor spreading and clarification consumes limited social attention and public discourse space. The traffic intended for industry discussions, technological innovations, or real social issues is occupied by trivial rumors; media and platforms must allocate resources for fact-checking; the public falls into fatigue while discerning truth from falsehood, gradually fostering a sense of 'utter untrustworthiness'—this is the vicious cycle that CZ refers to as 'increasingly difficult to distinguish between news.'
Rumor Economy: Who Benefits and Who Pays?
Rumormongers often reap traffic and attention, while the costs are borne by society as a whole: the parties involved endure psychological pressure and reputational risk, the public loses a sense of information security, and the social trust system is eroded. When debunking rumors becomes a compulsory lesson for public figures, and serious discussions are drowned out by entertaining noise, we are all paying taxes for this 'rumor economy.'
Conclusion: Rebuilding judgment amidst the clamor
CZ's response, though brief, points to a key solution: cultivating individuals' information judgment. In a time when groups are prone to emotional dissemination, we need to remain cautious and reflective—do not blindly trust unverified messages and do not participate in unnecessary rumor-mongering. Only in this way can we reduce the next 'CZ' or 'Sydney Sweeney' from being unjustly ensnared in rumor troubles and allow the public space to return to rationality and value.
As CZ said, those who can discern truth from falsehood 'will be wealthier.' This wealth is not only material but also a spiritual clarity and freedom.
