Changpeng Zhao, the CEO of Binance and also known online as “CZ,” denied on Twitter on Wednesday that he had engaged in a physical conflict with an American inspection agency in Asia that resulted in him drawing an AK-47 and being “wasted.”
In a tweet in response to the allegedly fake story becoming viral on social media, Zhao said, “This is the second time I got intoxicated in Asia news. The previous one involves a #BNB-filled basement.
Zhao vehemently disputes the validity of a slew of negative stories about him that have been spreading across Asia, including the strange tale of a firefight.
Zhao’s annoyance could be seen in his second tweet, when he mockingly remarked on how ridiculous the rumour was, “Oh, and I got shot 27 times… Who the TF thinks of something like this?
Social media users have found amusement in such baseless rumours, but they also highlight a larger issue with false information, particularly in the volatile cryptocurrency sector.
It’s critical to remember that Zhao was just named in a lawsuit by the Securities and Exchange Commission (SEC), which is the background to this scenario. According to the lawsuit, Zhao and other defendants diverted client assets from Binance, the biggest cryptocurrency exchange in the world, to another business he controlled.
Zhao doesn’t seem to be phased by these difficulties, at least in public.
