TL;DR
- FUD Resurgence: Crypto Twitter renewed attacks on Changpeng Zhao after his buy-and-hold comments clashed with a market still reeling from the 10/10 crash, with Bitcoin down 25% and most recent Binance listings far below their highs.
- Binance Defense: Changpeng Zhao rejected claims of market manipulation, insisting neither he nor Binance sells significant amounts and emphasizing regulatory oversight and the companyās status as a net hoarder.
- Industry Fallout: Star Xu and Cathie Wood argued the 10/10 event caused lasting damage, with over $28 billion erased and market cap down more than 20%.
Crypto Twitter has reignited its anger toward Binance and former chief executive Changpeng Zhao, months after the exchange was blamed for triggering the notorious 10/10 liquidation event. The renewed backlash has intensified over the past week, with traders accusing Changpeng Zhao of ignoring the marketās ongoing weakness and dismissing community concerns as FUD. As sentiment deteriorates, frustration continues to build around falling token prices and the broader marketās inability to recover from last Octoberās turmoil.
Not the first time, won't be the last time.
Been receiving FUD attacks since day 1. Will address it in the AMA tonight, look below the surface on why and how.
While our (self perceived) "competitors" focus on us, we continue to build and grow. šŖ https://t.co/g7bil6w5Mh
— CZ š¶ BNB (@cz_binance) January 30, 2026
Rising Criticism Toward Zhaoās Market Commentary
The latest wave of criticism began when Zhao posted on X that most trading strategies fail to outperform a simple buy-and-hold approach. Many traders saw the comment as detached from current conditions, especially with Bitcoin down 25% in three months and trading at around $82,000. The coin has not revisited its $120,000 level since October 10. Community members also pointed to Binance listing data showing that more than 90% of 221 Alpha-listed tokens from 2025 and 2026 remain far below their post-listing highs, fueling distrust in Zhaoās guidance.
Changpeng Zhao Responds to Accusations of Market Damage
In a follow-up post, Zhao dismissed the attacks as ineffective, claiming his follower count had grown. He argued that FUD harms the entire crypto market and reiterated that neither he nor Binance sells tokens in meaningful amounts. Zhao said his personal spending converts only small amounts of BNB and described Binance as a net hoarder that converts limited revenue to cover expenses. He added that regulators worldwide can review every trade, urging users to avoid misinformation and focus on self-improvement.
Industry Leaders Revisit the 10/10 Fallout
OKX founder Star Xu reignited the debate by stating that the impact of the 10/10 incident had been underestimated and caused lasting industry damage. Total crypto market capitalization has dropped more than 20% since the event, now sitting near $3.2 trillion. Binance has paid about $283 million in compensation for de-pegging issues and plans further payouts. Xu accused unnamed platforms, widely interpreted as Binance, of enabling profit takers, insider trading, and Ponzi-like schemes that manipulated low-quality tokens.
ARK Invest CEO Cathie Wood told Fox Business that the ecosystem has been dealing with aftershocks from the forced deleveraging tied to a Binance software glitch. She estimated the unwind erased $28 billion from the industry. Binance CEO Yi He later responded in a now-deleted post, noting that Wood is not a Binance user and that the exchange does not serve US individuals or entities.
