Former Binance CEO Changpeng Zhao ( @CZ ) recently addressed four rumors circulating within the crypto community, describing them as “imaginative” examples of fear, uncertainty, and doubt (FUD).
In a social media post, CZ responded point-by-point to clarify misinformation related to:
An alleged $7 million Polymarket bet
His comments about Bitcoin’s supercycle
Binance wallet balance movements
The timeline for the SAFU fund’s Bitcoin conversion
Below is a breakdown of what was claimed and what CZ clarified.
What Is FUD?
FUD stands for Fear, Uncertainty, and Doubt. It refers to the spread of misleading or negative information that can influence market sentiment.
In volatile markets like crypto, unverified claims can quickly gain traction. CZ stated that the recent rumors were examples of how misinformation can spread rapidly across trading communities and social platforms.
The Alleged $7 Million Polymarket Bet
One rumor claimed CZ placed a $7 million bet on Polymarket, a decentralized prediction platform. A screenshot circulated online as supposed proof.
CZ denied the claim, stating that the event in question “does NOT exist on Polymarket, or any prediction market.” He added that no such bet was ever placed.
The clarification emphasized that the screenshot was fabricated and that the alleged betting event never existed on the platform.
Did CZ “Cancel” Bitcoin’s Supercycle?
Another rumor suggested CZ had “cancelled the supercycle” for Bitcoin.
This stemmed from a weekend AMA session where CZ said he felt “less confident” about a multi-year bull run compared to before.
He clarified that:
He only stated he was less confident, not that a supercycle was impossible.
No individual has the power to create or cancel market cycles.
His reduced confidence reflected current geopolitical tensions and market conditions.
A Bitcoin supercycle refers to a prolonged bull market that extends beyond the traditional four-year halving cycle. While CZ previously expressed optimism due to improving U.S. regulations and institutional adoption, recent volatility — including Bitcoin’s drop toward $75,000 and approximately $2.5 billion in liquidations — led him to reassess expectations.
Did Binance Sell $1 Billion in Bitcoin?
Another claim stated that Binance sold $1 billion worth of Bitcoin, implying the exchange was reducing its holdings.
CZ clarified that the reported figure reflected user activity, not Binance itself.
He explained that exchange wallet balances change primarily when users withdraw funds. Many users keep assets on Binance even after trading, meaning on-chain wallet movements typically represent customer withdrawals rather than internal exchange sales.
This distinction is important:
If Binance had sold holdings directly, it could signal institutional positioning.
If users sold Bitcoin, it simply reflects regular market trading behavior.
Why Hasn’t the SAFU Fund Purchased Bitcoin Yet?
The fourth rumor questioned why Binance’s SAFU (Secure Asset Fund for Users) had not visibly purchased Bitcoin after announcing a planned conversion.
CZ clarified that Binance committed to completing the conversion over 30 days, not immediately.
He suggested purchases would likely occur gradually, with transfers to the designated address occurring periodically rather than instantly. He also noted that Binance would likely execute purchases via its centralized exchange rather than decentralized platforms, making on-chain tracking less obvious.
Regarding market impact, CZ provided perspective:
$1 billion spread over 30 days equals a very small fraction of Bitcoin’s $1.7 trillion market capitalization approximately 0.002%. He described it as more symbolic than market-moving.
Final Takeaway
@CZ response highlights the importance of verifying information before drawing conclusions in crypto markets.
His clarifications addressed:
Fabricated screenshots
Misinterpretation of market commentary
Exchange wallet mechanics
Fund conversion timelines and market impact
He concluded by shifting focus back to long-term development, emphasizing that speculation and rumors can distract from productive building within the ecosystem.
In fast-moving markets, context and verification remain essential.