As an analyst with over two decades of experience in the financial markets, I have seen countless bull and bear cycles, and have learned to appreciate the wisdom in not listening to the naysayers. Changpeng Zhao (CZ), the co-founder and former CEO of Binance, is a prime example of someone who has consistently bet on Bitcoin and reaped the rewards. His latest tweet, highlighting the “Database of notable Bitcoin skeptics,” is a testament to his foresight and conviction in the potential of cryptocurrencies.
Changpeng Zhao (commonly known as CZ), a key figure in the cryptocurrency world and co-founder/former CEO of Binance – the biggest crypto trading platform, recently used his account on social media to speak out to individuals who questioned Bitcoin‘s future or followed advice from Bitcoin skeptics.
CZ mentions Bitcoin skeptics as BTC hits new ATH
Today, Bitcoin, the leading digital currency worldwide, set a fresh record high, touching $89,956. This remarkable milestone was achieved through a nearly 10% surge in its value within the past 24 hours.
In a recent tweet, Changpong Zhao posted a link to an online resource titled “A List of Notable Bitcoin Critics,” which is commonly referred to as “Bitcoin is deceased.
“If you believed any of these guys, then … blame yourself,” the former Binance boss tweeted.
As an analyst, I drew attention to a tweet from CZ in 2019 that Ki Young Ju, founder of CryptoQuant, recalled in the comments. In this tweet, CZ suggested self-slapping if one had sold Bitcoin for under $10,000.
Miss those days.
— Ki Young Ju (@ki_young_ju) November 12, 2024
On Saturday, CZ also weighed in on Bitcoin’s peak price of $77,252 reached that day. At the time, Zhao cautioned investors and holders to “restrain their greed.” He predicted that Bitcoin might showcase both new highs and setbacks in the near future, suggesting the community to “implement sound risk management strategies.
To navigate through the ups and downs that are yet to come, it’s wise to diversify your investments or options, much like not relying on a single container for all your eggs.
FTX sues Binance and CZ for $1.8 billion
According to reports on Monday, the troubled cryptocurrency exchange FTX and its executive team have launched a legal action against Binance and Changpeng Zhao (CZ). The intention behind this lawsuit is to recover approximately $1.8 billion from Binance and CZ, which FTX claims were illegitimately transferred by Sam Bankman-Fried, as suggested by Bloomberg.
As a researcher delving into the intricacies of cryptocurrency transactions, I’ve uncovered that in July 2021, funds totaling $1.8 billion were transferred to CZ and other Binance executives. This transfer was part of a repurchase agreement with SMF, which was facilitated by selling approximately 20% of FTX’s international platform and 18.4% of its U.S.-based subsidiary. The payment for these stocks was made in a combination of FTT, BNB, and BUSD tokens, as provided by SBF.
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2024-11-12 18:46