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CZ: Why would someone FUD Binance?

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"Some in our industry hate centralization. Whether or not CEX helps cryptocurrencies adopt faster, they hate CEX."

Original source: CZ

0x9F, BlockBeats

Binance CEO CZ shared his thoughts on why people FUD Binance on the social media platform today, which BlockBeats translated as follows:

Some in our industry hate centralization. Whether or not CEX helps cryptocurrencies adopt faster, they just hate CEX. Everyone can hold their own opinion and express their own opinion. That's not a problem at all.

Some people who lose money on the trade, or have other problems, may accuse and attack us. Not all situations are black and white. For example, a user who cannot access Binance because his own router is having problems may be difficult to diagnose or prove, even if no one else is having problems during this time and our system monitoring shows no queues, no traffic overload, and no sudden increase in the number of customer service cases.

Some in the industry see Binance as a competitor. We've seen people go to great lengths to lobby against us, lend money to small media outlets (which are worth many times the market value of the media), buy homes for their ceos, etc.

According to the above, some media got paid by FUD us. Some companies are completely "owned" by "competitors." Some may wrongly believe that we have cut off their funding (we haven't, they can't themselves) and blame us, no matter how illegal their funding may be.

Cryptocurrencies have yet to be adopted on a large scale, perhaps less than 5% globally. Many people remain skeptical of cryptocurrencies. Some media outlets have a more traditional audience and tend to align with their views. There's nothing wrong with that.

The same goes for politicians, policy makers, etc. Not all of them are advanced. There's nothing wrong with being conservative. I've met leaders who want to "protect" banks rather than "disrupt" them with cryptocurrencies. Of course, I personally take the opposite view. I think the best way to protect banks from disruption is for them to adopt blockchain technology sooner rather than later. I could be wrong.

Then there is the generalization. "If one CEX is bad, then all other CEX must be bad, too." Especially if the CEX they liked before turned out to be bad. Then they must hate the other CEX even more.

There may also be a small number of people who are jealous of Chinese-looking Canadians, or just plain racist. Who knows? We don't care.

Scale. Writing "Binance" will get you more clicks. If you write about a small trading platform, you'll get fewer hits. There are advantages and disadvantages to being big.

There is no absolute right or wrong for most of these. This is our world. We just need to recognize and understand it.

We are not perfect. We welcome feedback, but ignore FUD. We focus on building our own products with your support.

Merry Christmas!