CZ suggested people remain away from “only trading” during the crypto bull season.
Binance CEO Changpeng Zhao (CZ) is a popular personality in the crypto sector, because of his success as a top crypto entrepreneur. Within 6 years, he made his crypto business “Binance” top in the Crypto world. CZ is a Chinese origin person but he is Canadian by citizenship.
On 17 July 2023, CZ suggested all those crypto traders who are not aware of the current situation and are waiting to trade their money for crypto assets in the incoming crypto bull cycle.
CZ said that if such people will only trade in the bull season then they will fall under the bull trap.
Some of the CZ followers said that CZ is giving a hint that a bull cycle is coming and few noted that he is warning people from crypto trading, as currently, the crypto industry is standing in the bull phase.
Binance & FUD
Binance is very big exchange, so it is very easy for the bad actors to grab attention with the use of the “Binance” term in their activities.
Several times Binance CEO noted that major mainstream media also uses “Binance” in their news titles to get huge numbers of clicks unethically.
On 18 July 2023, Binance CEO noted that a guy was spreading a fud against Binance exchange back to back because Binance denied investment in his startup.
BinanceUS vs SEC & CFTC
BinanceUS is an independent American Binance subsidiary. Last month, the United States Securities Exchange Commission (SEC) sued BinanceUS over providing unregistered securities offerings.
Just a few months ago, the Commodities Futures Trading Commission (CFTC) sued BinanceUS over providing unregistered derivatives trading services in the US jurisdiction.