Binance Co-Founder and Former CEO Changpeng Zhao (CZ) has once again made headlines and this time Bitcoin is the subject.
Earlier today, he took to X(Twitter) to write, “Have you ever thought to yourself, “I wish I had… bought bitcoins early, bought the dip, held, learned about crypto early, ignored FUD.’ -But when the opportunity presents itself again, will you act? -Today is earlier than all the days to come. Not financial advice.”
CZ Posts Draws Criticism
The post was not taken quite well by the Twitter community and has drwn a lot of criticism. This might be especially because recently in another tweet CZ referred to Bitcoin’s price at $100K as “boring.”
This comment too got a lot of criticism from the community. People called his statement provocative and insensitive, especially after one knows the volatile nature of cryptocurrencies.
After his today’s tweet got criticism CZ took it very lightly and simpy commented saying, “Click unfollow, then it’s like that tweet doesn’t exist for you.” The defensive statement has further put in more oil in the fire, with users questioning his approach towards the crypto space.
Bitcoin’s Market Performance
Bitcoin is currently holding strong above the $94K mark. It is trading at $94,793.63, up by 0.74% in the last 24 hours.
The global crypto market cap currently stands at $1.87 trillion. Notably, the 24-hour trading volume has surged by an impressive 159%.
More Legal Trouble for CZ and Binance?
As Binance plans the year ahead, it is also facing significant legal troubles from various sectors. The U.S. Supreme court has said a big NO to Binance’s request to stop a class action lawsuit. The lawsuit is about Binnace and CZ soldering ceratin digital assets as investments, however later these assets lost all its value.
Earlier, a appeal said that these kind of transactions falls under the American law. Binance thought of challenging this, but the Supreme Court had other plans and it allowed the case to proceed further. This has indeed become a critical point for the exchange and CZ.
Meanwhile, all these troubles that Binnace is facing has raised several questions on its credibility. People have started to doubt the transparency of the exchange.
Experts say that whatever the outcome of these lawsuits is, it will have a significant impact on the crypto industry.
The Road Ahead
As Bitcoin is holding steady and continues to rise, the focus is tight on CZ.
The legal battles will shape several narratives in the future. For now, the crypto world watches closely.