Binance CEO Denies Selling Bitcoin for BNB Coin, Dismisses Rumors
Binance CEO Changpeng "CZ" Zhao has addressed rumors suggesting that Binance, the world's largest cryptocurrency exchange, has been selling bitcoin (BTC) to prevent the decline of bnb coin (BNB). CZ took to Twitter to clarify that Binance has not sold any BTC or BNB and even holds a bag of FTT. He attributed the rumors to potential short interest among Crypto Twitter users. The rumors gained traction after tweets from prominent traders pointed out short-term price correlations between bitcoin sell-offs and BNB purchases. However, CZ dismissed these claims and emphasized that the rumors were baseless. BNB prices have shown a 6.6% increase in the past 24 hours, while bitcoin has experienced minor declines in value.