Binance CEO Targets Media Outlets for Alleged Bias

Changpeng Zhao, former CEO of Binance, criticized major media outlets Financial Times, Reuters, and Forbes on October 1st via social media for allegedly biased reporting against him and Binance.

Zhao’s remarks intensified discussions about media bias, causing notable sentiment-driven volatility in Binance’s native BNB and select altcoins, highlighting media influence on cryptocurrency markets.

Changpeng Zhao, founder of Binance, accuses Financial Times, Reuters, and Forbes of coordinated biased reporting on social media, igniting widespread discussion.

The incident highlights tensions between crypto leaders and traditional financial media, affecting market sentiments and causing volatility.

Media Reports Criticized for Alleged Bias Against Binance

Zhao criticized three major financial outlets for allegedly using “identical scripts” to spread fear, uncertainty, and doubt about Binance. His comments, shared online, triggered a significant discussion across crypto circles.

“Breaking: FT & Reuters just launched a joint venture… the Tinfoil Hat Club. Or are they ‘owned’ by the same ‘owner’ behind the scenes? Two outlets, sent the same FUD script, same deadline. At least change the font, guys.” – Changpeng Zhao, Founder and former CEO, Binance

In his post, Zhao suggested a hidden agenda behind these reports, questioning whether the outlets were coordinated by a common entity. This raised suspicions within the crypto community.

Crypto Market Reacts with Volatility to Media Claims

The media dispute resulted in a negative shift in sentiment among investors, coinciding with sharp price declines for certain cryptocurrencies. Several altcoins experienced substantial sell-offs due to the stirred market anxiety.

While major cryptocurrencies like BNB reacted sharply, industry players showed broader distrust towards financial media. There were no regulatory or institutional responses directly linked to the accusations.

Binance’s History with Media-Driven Market Volatility

Previous accusations against Binance, often linked to media-driven FUD, have similarly triggered high volatility across crypto markets. Such scenarios frequently impact Binance’s native token, BNB.

Past patterns suggest that this type of media scrutiny causes short-lived market fluctuations unless accompanied by legal or security concerns. Experts remain watchful for any future regulatory actions.

Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.