CZ: Binance Only Converts Portion of Revenue to Cover Expenses

Odaily News Binance founder CZ posted on the X platform, stating that FUD harms the market, not the target. Neither he nor Binance will conduct large-scale sell-offs. By his so-called selling, he refers to the $5 worth of BNB being converted and used to pay for coffee when swiping a card. CZ stated that although he no longer operates Binance, to his knowledge, Binance only converts a portion of its revenue to cover expenses and is a major net holder. Furthermore, Binance now has global regulators who can review every transaction of every account.