CZ's Response to FUD AMA Key Takeaways: The 1011 crash was not caused by an issue with Binance's system, and the platform has done its best to compensate for the losses

BlockBeats News, January 31st, this morning, Binance founder CZ held an English AMA at Binance Square to address recent community FUD against Binance. The following is BlockBeats' record of CZ's key remarks:

「Trump's tariff announcement triggered a 1011 market downturn, which was not caused by any issues with the Binance system or any actions by Binance. Binance does not engage in trading activities to make money through buying and selling cryptocurrencies, so it did not sell off assets to intentionally suppress the price. The so-called 'Bitcoin price manipulation' would require taking on the risk of hundreds of billions of dollars, and there is no entity in the world with that capability. Binance is currently regulated and is not in a position to engage in any violations.

Forbes claiming a net worth of $920 billion does not mean that there is that much cash on hand, I have not cashed out any company stock personally, nor have I sold cryptocurrency for fiat. I personally believe that fiat is an asset that will depreciate in the long run, so I prefer to hold Bitcoin, BNB, etc.

Some people complain that a system issue may have caused the flash crash. However, there is no technology in the world that can guarantee zero problems. No website, no trading platform can ensure 100% uptime. The terms of use clearly state that such situations may occur, and the platform is not liable. Binance has done a very good job in compensating for losses incurred as a result of this.

The listing of tokens on Binance does not mean that users must buy them. Good projects will naturally attract more buyers, while poor projects will naturally have fewer buyers. The Binance platform provides a channel for accessing a certain token, but it does not mean being responsible for the token's performance. Just like not every stock on Nasdaq performs well, not every stock on any trading platform is guaranteed. The platform only provides an access channel; conducting research and making choices is still the user's responsibility.

There have been recent instances of 'water army' maliciously spreading FUD, as well as users who did not lose money in the 1011 event, hoping to pressure Binance into compensation. However, these voices are still the minority, and the vast majority of users are rational. Binance has done a very good job in customer service, even going beyond what is necessary. FUD from the 'water army' will bring more exposure to Binance, and the platform will ultimately benefit after the storm settles.」