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Changpeng Zhao, the CEO of the beleaguered crypto trading platform Binance shed light on the multiplying fallacies and false narratives on the current crypto market trend.On June 10, the Binance CEO provided clarifications to several distorted facts that have been circulating over the past few days:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/20a99ff0ca49406aa2915f8cfa049ced.png" />Referring to the false narratives regarding the ongoing trends in the crypto space, especially following the SEC’s lawsuits, Zhao posited, “Greed and fear, the 2 emotions you [community] need[s] to manage in any markets”.Citing the first fallacy, “Binance converted its holdings to fiat”, Zhao referred to the <a href="https://twitter.com/0xG00gly/status/1667420956954882048?s&#61;20" rel="noopener noreferrer nofollow">tweet</a>of the Pool 2 reply guy Googly, which shared “something weird in Binance’s own Proof of Reserves”. Googly pointed out that the exchange cashed out fiat and moved a large amount of company reserves out of the exchange cold wallets.Zhao asserted that the fiat currencies or the stablecoin reserves which were used to pay for short-term salaries or other similar expenses have decreased while the crypto reserves increased over the past few weeks and months.Read full article at<a href="https://cryptotale.org/binance-ceo-questions-the-prevailing-fallacies-of-the-current-crypto-market-trend/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Binance CEO Questions the Prevailing Fallacies of the Current Crypto Market Trend

CryptoTale

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