Crypto Gossip About CZ in Global Media Equals Mainstream Adoption

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Crypto gossip in the mainstream press points to the fact that the crypto industry has achieved mainstream adoption. All we have to do is watch Reuters digging into Changpeng Zhao and his personal life for scandal to know this is true.

The saga just keeps unfolding. Changpeng Zhao (known as “CZ”), is the Chinese-Canadian founder and CEO of Binance. The platform is the world’s largest cryptocurrency exchange by trading volume.

And, CZ is big mad. TLDR; Reuters spent the past few months writing unfavorable articles on Binance. As the drama played out, CZ’s family were pulled into the gossipy report. This prompted CZ to post some furious rebuttals. Which, frankly, have been very absorbing.

Crypto gossip and doxxing

Here’s the long version of what happened. Earlier this year, CZ caught the attention of the Reuters news agency. In a special investigation, the news agency made many claims against CZ.

CZ has not been backwards in coming forwards about his disgust in this report. The Binance CEO claims that the writers threatened to doxx his family if he didn’t comply with handing over information.

Another flagrantly inaccurate ‘report’ on Binance from the usual suspects.

We felt they crossed a serious line. Threatened to doxx my family. So the team agreed not to engage.

Read my response below, along with more details about how I lead Binance. https://t.co/dF9djlryDg

— CZ 🔶 Binance (@cz_binance) October 17, 2022

Crypto gossip: Blog post retaliation

In a blog post, which makes crazy-good reading (with lots of linked-in rabbit holes) CZ detailed just how unimpressed he was with the report.

“As a founder, I’ve learned that keeping strong, cordial relationships with journalists is a no-brainer. We work hard to respond quickly and accurately to their requests and, 99.9% of the time, this results in unbiased reporting. But on very rare occasions, the relationship can become so broken that operating in a mutual way is no longer possible.”

CZ says that the Reuters reporter had written a series of stories about Binance over several months but have only used anonymous sources to get the “facts.”

CZ says that because of a “breakdown in trust,” Binance took the unusual step of posting the full email chain with the report from Reuters. Juicy!

Crypto Gossip: The Case of Crypto Being Mainstream

CZ says he was given questions about Binance’s commitment to compliance and CZ’s personal leadership style.

“Those are fair topics that I’m happy to address. What’s unique this time is that they’ve signaled a new low and have crossed the line into indefensible territory. They have signaled an intent to report about my children.”

The reason why this is a big deal, is that Binance are currently working with global law enforcement agencies to seize the assets of crims. Obviously, this has upset a lot of the bad guys.

CZ goes on to say, “My toddlers are not in the public interest and this reporter would be knowingly putting them in harm’s way by publishing information about them. This is unprincipled and intolerable.”

CZ says that Binance could not get assurances that the reporter would not refrain from writing about his family. So instead of responding to them directly, they are “taking the story directly to the community.”

Many celebrities know they have made it when news outlets say wildly untrue things about them to get the clicks. And of course, fake news has been known to spread faster than the truth.

Bigger celebs are just too famous to worry about false articles about them. And this may now be the case for CZ. Binance has been litigious in the past, taking on Bloomberg after a quote from a Binance user declared that Binance was a “massive shitcoin casino.”

This time, instead of suing, however, it seems CZ has decided to blog about it instead. Yes indeed, his clout is big enough now that he doesn’t need to sue. Yep. Crypto is mainstream.

Blog post clap-back

Continuing the saga, CZ broke down the some of the issues that Binance was accused of. He said that the accusation that crypto is a tool of criminals is a total myth.

“Reuters has reported that Binance had been used as a conduit for the laundering of at least $2.35 billion in criminal funds but failed to provide any details of how that number is calculated. And, note the fact this represents less than 0.1% of total funds that have flowed through Binance since 2019. Despite Reuters’ numbers being grossly overstated, it would still indicate that Binance is one of the most effective financial institutions in keeping illicit funds off its platform. We have zero tolerance for criminal activity.”