#MultiChain Changpeng Zhao hit back at critics saying that Binance US was almost about to close.
Zhao did not deny that such voting took place although the information reported might not have been accurate.
Crypto fans expressed support for Zhao and Binance amid the market experiencing further volatility.
Binance founder Changpeng Zhao hit back at critics who said that Binance US is almost about to cease its operation. Zhao said the quality of the research and validation done by those who spread the alleged disinformation is “appalling.”
The quality of research, validation, or even logical thinking in this "news" is appalling. If it is a board vote, 1 vote holding out of 3 won't stop anything. The 2/3 wins. If it is a shareholder vote, Brian S. is a CEO, not a VC or any other type investor. It's just FUD. 4. pic.twitter.com/nhQHiIkiYs
— CZ 🔶 Binance (@cz_binance) August 2, 2023
According to the original article seen in the post, the board of directors held a vote on whether to close the US exchange to save the global entity or not. Unfortunately, the board could not come to a unanimous accord with Binance US CEO Brian Shroder voting to dissent.
However, as Zhao said in his tweet, Shroder is not part of the board at all so his opinion didn’t matter. In fact, since he isn’t an investor, he wouldn’t have been included in the meeting at all — if it ever occurred in the first place.
To be fair to CoinDesk, the team tried to reach out to Binance US but did not get a response. In addition, the crypto media giant quoted The Information as the source.
Moreover, Zhao did not deny that such voting took place. It may have been possible that the board of directors indeed voted on whether to shut down #Binance US or not.
The rumors may have contributed to the #crypto market experiencing additional volatility in the last 24 hours. On the other hand, crypto fans expressed their support for Zhao and Binance.#FDUSD
