CZ took to Twitter to respond to an article by Forbes — the mainstream media that Binance had planned to invest $200 million last year.
However, the following day on Feb. 28, Binance co-founder and CEO Changpeng Zhao took to Twitter to tackle the FUD. In response to the article, the CEO said:
“They seem to not understand the basics of how an exchange works. Our users are free to withdraw their assets any time they want.” In his series of tweets, he addressed various claims from the Forbes article. This included what it called a “backroom maneuver” when Binance transferred $1.8 billion in stablecoin collateral to hedge funds such as Tron, Amber group and Alameda Research between Aug. 17, 2022, to early December.
They called out Tron, Amber group, Alameda Research, etc. They seem to not understand the basics of how an exchange works. Our users are free to withdraw their assets any time they want. Their withdrawals are turned into “received hundreds of millions of shifted collateral.” 2/
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