Author: Yuki Rabbit🐰💢
Recently, scrolling through the timeline, you will notice a very obvious change:
Overseas KOLs have intensively targeted @cz_binance in a short time.
Why? Who exactly made a mistake?
In January 2026, Crypto Twitter collectively "went crazy".
In just a few weeks, CZ's name is filled with a gunpowder flavor:
"CZ touch = death"
"Binance is the biggest PA (pump & dump) machine"
"Started systematically harvesting after getting out of prison"
"Scumbag pardoned by Trump"
When in a bull market, he was called the "People's Hero", but now the gradual bear has turned into a direct upgrade to "industry parasite". This wave of hatred comes on strong and concentrated, but is it really sudden? Or has it been brewing for a long time, just waiting for a good opportunity to explode? Let's talk about what's going on?! What are overseas KOLs cursing about
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First, the trigger: the collective 'zero show' of Launchpool/Alpha projects after being released from prison
CZ was released from prison in September 2025, and Binance has clearly accelerated the pace of new projects—especially Launchpool, Alpha, and meme-type listings.
So what?
Community statistics show: in recent months, projects pushed by Binance have an average decline of 70-95% after listing, many directly over 90%. Typical cases include:
Some meme/tokens soar dozens of times before quickly crashing
Users of Launchpool farming found their investments halved or even worse right after unlocking
KOLs directly start criticizing:
'CZ will die at a touch' 'Binance listings = retail exit liquidity' 'Internals push up first to sell, then let retail take over.'
The current market turbulence makes it hard to make money, and after continuous missteps, everyone shifts all the losses onto the largest exchange and the most vocal CZ.
Why is it specifically CZ?
Because in a bear market, the market needs a 'conspicuous target' to channel loss emotions:
Sufficiently centralized
Sufficiently successful
Sufficiently related to the profit and loss paths of most people
CZ is all-in
When assets do not rise, leverage backfires, and narratives fail,
The 'hero' will be liquidated quickly.
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Second, the biggest contradiction: shouting '2026 supercycle' on one hand, while being accused of 'running away first' on the other.
CZ recently emphasized repeatedly in an interview in Davos:
BTC needs to break the 4-year cycle
2026 will be the supercycle
buy & hold, don't FOMO and don't panic sell
Sounds very inspiring, right?
But during the same period, the community observed:
Binance internal wallets/market makers massively sold BNB and new coins at high points
Some projects show massive sell orders on the listing day or within days
CZ's personal wallet continues to burn unsolicited meme coins, yet it is interpreted as 'clearing relations'
Typical narrative chain: he shouts bullish → retail investors FOMO in → platform/internal high sell-off → users liquidate → curse him as 'drawing big cakes and harvesting leeks'.
This logic spreads particularly easily in bear markets. Many people feel: if you really believe in it, why not hold more yourself? Why does it look like you are selling off?
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Third, historical burdens + moral minefields of political amnesty
Old problems have never disappeared:
10/10 incident (Binance system delay leading to massive liquidation)
Long-term accusations of 'listing requires 8-10% token supply as hidden fees'
KYC restrictions, contract issues, BSC ecosystem 'internal group harvesting'
SEC's accusations of wash trading, commingling of customer funds, etc.
Additionally, the Trump amnesty in October 2025:
Many people feel 'escaping punishment through political connections'
MGX invested 2 billion in Binance using Trump family-related USD1 stablecoin
CZ clarifies 'no business relationship with Trump', but conspiracy theories cannot be suppressed
In the U.S. domestic and anti-establishment crypto circles, this line is particularly jarring: a convicted person, not long after being released from prison, returns to the spotlight relying on political buffs and continues to 'manipulate the market'?
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Fourth, but this wave of criticism also has a 'herd + emotional' side
Objectively speaking, this round of attacks on CZ is not entirely rational judgment.
First of all, the market itself is weak.
In a weak market, emotions must find an outlet, and any sufficiently large platform will become a scapegoat.
During the bull market, everyone shouted CZ's name, called for orders and faith;
Once the bear market arrives, the narrative reverses, and the 'original sin' naturally falls on him.
Secondly, Binance's size inherently determines a high failure rate for listings.
This is a structural problem, not 'one person manipulating everything'.
Only a limited number of projects can make it to the stage, and the majority are rejected; this blame cannot be entirely placed on CZ.
The third point that is often overlooked is:
CZ is no longer the CEO of Binance.
What he is doing more now is education (Giggle Academy), charity, and personal brand building.
Attributing all the dissatisfaction in today's market to him 'still manipulating behind the scenes' is actually an over-attribution.
Even many overseas KOLs themselves have stated quite frankly:
'Market up we love CZ, market down we hate CZ.'
In the end, this feels more like a concentrated explosion of cyclical emotions.
When the market is bad, people need a sufficiently well-known and symbolic figure to channel emotions—
And CZ just happens to be the most conspicuous and easily projected name.
Will this wave of hatred fade?
High probability will occur
As long as any of the following conditions appear, emotions will cool significantly:
Market strengthens / truly breaks out of turbulence
BNB and new coins have a money-making effect again
Overseas users can 'get a taste' on Binance again
The collective memory cycle of the crypto community, to put it bluntly, is even shorter than the lifecycle of meme coins.
Market up: CZ = builder / OG / industry pillar
Market down: CZ = vampire / parasite / villain
This has happened more than once.
And this hatred did not appear out of thin air; it was just 'amplified'
The truth may lie somewhere in between:
Binance indeed has systemic issues (listing quality, transparency, conflicts of interest)
CZ's public behavior has indeed intensified the trust crisis
But demonizing him as 'the biggest scammer in the industry' ignores market cycles, user responsibility, and platform scale effects, which is also quite unfair.
The problem may not be: is CZ a bad person.
But it lies in: when the market gives no hope, do we always need someone to bear the disappointment?
What do you think? Do you believe Binance really needs a complete reform, or do you feel this is just another round of 'bear market scapegoating'?