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BREAKING

Binance CEO Lashes Out at Forbes over ‘Baseless Articles’

Binance CEO Changpeng “CZ” Zhao is coming for Forbes over their coverage of the crypto world.

On February 27, Forbes wrote that Binance moved $1.8B in stablecoin collateral to a number of hedge funds.

Binance chief strategy officer Patrick Hillman denies that the exchange posed any risk or exposed user funds.

But CZ took it a step further, blasting Forbes; “[Forbes] seems to not understand the basics of how an exchange works.”

He said that the report ignored users’ deposit transactions, focusing on explaining Binance users’ withdrawals as “millions of shifted collateral.”

CZ says that Binance is completely different than the now-defunct exchange FTX. He added that Forbes has once again brought up his Chinese nationality, denying that Binance is a Chinese company.

He said, “I am deeply disappointed that Forbes continues to write baseless articles, losing their own credibility.”