CZ alleges that FTX paid $43m to run Binance FUD in the media.

Binance head Changpeng Zhao believes that FTX has funded most of the recent FUD reports about Binance.

FTX funded FUD on Binance?

Binance CEO Holds AMA Session In place of Twitterhighlighting that the FUD surrounding its crypto network was recently funded by FTX.

Zhao alleged that FTX paid a crypto news publishing site more than $43 million to publish negative articles about the Binance exchange. The CEO noted that he actually paid some attention to the negative news circulating.

“I don’t think it’s going to stop, but I don’t think it’s going to bother us that much going forward.”

CZ, CEO of Binance.

The collapse of FTX sparked a contagion in the crypto industry, causing billions in losses. Crypto exchanges were under intense pressure to provide proof of their reserves, but speculation continued due to lost investor confidence.

In December, Binance faced a series of FUD attacks. Questions arose over the proof of deposit issued by the Binance exchange. Some note that the auditor of the exchange used something. The selected method from Binance To calculate proof of reserves. Others doubted Binance’s financial health.

On December 12, rumors emerged that US prosecutors would arrest several Binance Network executives, including Zhao himself. While FUD was circulated. Through many channels, Changpeng Zhao alleged that FTX was the main culprit.

Despite the FUD talk, Changpeng Zhao praised the cryptocurrency community for being able to avoid being easily fooled by clickbait titles. He noted that many users in the crypto space today are quite savvy.

The issues between FTX and Binance stem from past feuds between Changpeng Zhao and former FTX head Sam Bankman Fried (SBF). Both reportedly disagreed with the SBF’s call for more crypto regulation.

Earlier this month, the SBF accused Zhao of accelerating FTX’s decline. Zhao’s tweet bankrupted Almeida’s research.

More in the AMA?

In addition to the FUD talk, the head of Binance also talked about AI and the crypto industry.

Responding to a question on the topic, Zhao noted that he believes there is more to implementing AI tech in the blockchain landscape. He highlighted that AI’s ability to help with risk management issues could help prevent future blockchain projects from failing.

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