Changpeng Zhao Says I spend my energy building, not fighting

The chief executive officer of Binance exchange responded to the fake controversy between Binance & FTX exchange.

Yesterday, Binance CEO & founder, Changpeng Zhao, announced that the exchange will sell $580 Million worth of FTX token (FTT) holdings because the exchange doesn’t want to hold this coin & the exchange will do the same slowly without impacting the FTT market financially.

At that time, Zhao confirmed that he or the exchange is not against the FTX exchange and the announcement of this huge amount of FTT sales was made because the exchange wants remain fully transparent to the community. 

This news acted as a controversy & fear among crypto investors. The majority of the crypto investors started to talk about this thing in the community and a few people claimed that Binance & FTX exchanges are fighting against each other. 

Today, Binance CEO Changpeng Zhao responded on this matter and said that the FTT liquidation decision & announcement to the crypto community was an effort to remain fully transparent to the community. 

“My tweets were simple. There were questions about a large ($580m) FTT deposit to Binance, and we were transparent about the fact that we are closing our FTT position,” Zhao said

In the same Tweet thread, Zhao quoted a conspiracy theory that was getting traction in the crypto Community on behalf of the rumoured downfall of FTX. 

Further Zhao said that fake theories are taking the form of a fight between two leading crypto companies, which is not the truth. And Binance believes in building, not fighting.

“I spend my energy building, not fighting. Today I spent my day on our business & our community. I suggest others do the same. Back to building.”

Read also: FTX founder responds against Binance’s FTT liquidation decision