Binance CEO drew attention to the price movements of Bitcoin in the last 3 months, saying that FUD is always temporary.
Binance CEO made statements
Binance CEO CZ shared a Bitcoin chart on social media, quoting a past tweet. He also commented on FUDs. In his post, CZ said, “FUD is temporary, about 1 month ago. He quoted the tweet that said, “The real ending.” He then included a chart showing the decline of Bitcoin from $ 22 thousand to $ 15-16 thousand, and then accumulating in this region and rising to $ 23 thousand.
On the chart, CZ pointed to Bitcoin’s price action over the last 3-month period and the ensuing bullishness. He later stated that FUD was temporary as a result. A social media user on Twitter said under the post that FUDs are temporary if you don’t care. He also advised the CEO not to even post about it. In response to this, CZ pointed out that this is impossible and answered why:
“Unfortunately, ignoring FUD cannot be taught to people without mentioning it.”
The last 3 months. In summary: FUD is temporary. https://t.co/Ra2MJ8EskJ pic.twitter.com/Stu4KW2ZzI
— CZ 🔶 Binance (@cz_binance) January 26, 2023
Also, another user approached the subject with an interesting suggestion. This user offered CZ to create a FUD wallet and send 1 BNB to the wallet every time he uses the word FUD. Binance CEO, on the other hand, stated that in the face of the proposal, the wallet will reach a balance of 1,000 BNB in less than 100 days in the current situation. Afterwards, he said that the process would be quite troublesome and preferred to make waves on the subject.
BUSD stablecoin value drops
Crypto exchange giant Binance’s BUSD stablecoin extended its recent declines amid mismanagement issues and other fiascos involving the exchange’s pegged tokens that surfaced earlier this month.
cryptocoin.com As we mentioned, the circulating supply of BUSD decreased by $1 billion last week and $2 billion in a month to $15.4 billion on Wednesday. The most recent drop extended BUSD’s $22 billion plunge in early December as worried users scramble to withdraw funds from Binance after falsifying a report on digital asset reserves.
BUSD is a dollar-pegged stablecoin issued by New York-based fintech firm Paxos Trust under the Binance brand, backed by cash and US Treasury bond reserves. Traders use stablecoins as an intermediary to convert traditional fiat money into digital assets and facilitate cryptocurrency trading.
The latest drop came amid recent reports of bugs involving the exchange’s wrapped token variants known as Binance-peg tokens.
