Changpeng Zhao widely known to the cryptocurrency community as CZ, co-founder and former chief executive of the largest crypto trading platform Binance, has taken to his account on the X platform to address those who did not believe in Bitcoin’s future or took Bitcoin skeptics’ public advice.
CZ mentions Bitcoin skeptics as BTC hits new ATH
Earlier today, the global flagship cryptocurrency Bitcoin soared to establish a new all-time high, hitting the $89,956 level. This price mark was reached as a result of a nearly 10% increase over the last day.
In his tweet, Changpeng Zhao shared a link to the “Database of notable Bitcoin skeptics” called “Bitcoin is dead”.
“If you believed any of these guys, then … blame yourself,” the former Binance boss tweeted.
Founder of CryptoQuant Ki Young Ju reminded CZ of his earlier tweet in the comments – in 2019, CZ tweeted: “Slap yourself, if you sold $BTC under $10,000.”
Miss those days. https://t.co/7Dl5QiVGtB
— Ki Young Ju (@ki_young_ju) November 12, 2024
On Saturday, CZ also commented the BTC high reached on that day, which was $77,252. Back then, Zhao issued a warning that investors and hodlers should “control their greed.” He said that in the near future BTC is likely to demonstrate multiple new highs and setbacks, advising the community to “apply proper risk management.”
It is important to be able to handle those future highs and lows. “Don’t put all your eggs in one basket,” he said.
FTX sues Binance and CZ for $1.8 billion
As reported on Monday, the non-functional crypto exchange FTX and its current management team have filed a lawsuit against Binance and Changpeng Zhao. The suit was initiated in the hope to claw back $1.8 billion from Binance and CZ which, FTX alleges, “was fraudulently transferred by Sam Bankman-Fried,” according to Bloomberg.
CZ and several other Binance executives received the transferred money as part of the repurchase deal with SMF in July 2021. That $1.8 billion transfer was obtained for selling roughly 20% of FTX’s international platform and 18.4% of FTX’s US-based branch. SBF paid for those stocks in a mix of FTT, BNB, and BUSD tokens. Since the filing claims that at that time FTX and its trading company Alameda Research were insolvent, the repurchase was fraudulent. Besides, FTX accuses CZ of posting misleading tweets about FTX before the latter collapsed in November 2022.