CZ Shuts Down Binance Critic Over Fake Cease-and-Desist Claim

Binance Founder Changpeng “CZ” Zhao has come out to debunk new claims that he is targeting some of his critics with a legal turf war. Taking to social media platform X, CZ shared screenshots to corroborate the fake claims of a cease-and-desist order issued to Jacob King.

CZ and Binance FUD growing

Since the Oct. 10 crypto market collapse, the Binance exchange and CZ have been the targets of a major social media campaign. The rationale was that the trading platform had a system glitch that forced the liquidation of billions in crypto assets globally.

The more the market slipped deep into the bear market, the louder the criticism grew. Joseph King, a renowned crypto critic, is a known voice targeting Binance. In his recent claims, he said CZ recently unblocked him to send a cease-and-desist order.

As King recounted on his X profile, this order was based on his earlier claims that Binance is currently insolvent. This claim was accompanied by a screenshot, alleging a private message from CZ.

In response, the Binance founder called the claims “fake.” He told his more than 10.7 million followers that he does not know King and that he had blocked him earlier for what is arguably a good reason.

As an action plan going forward, CZ said he will spend less time debunking most of the FUD — Fear, Uncertainty and Doubt — flying around. He warned members of the community to beware of such accounts to preserve their wealth.