Changpeng Zhao has been seen selling an ample supply of Binance Bitcoin to maintain the price of the BNB(Binance Coin)
The Allegations Against Changpeng Zhao
In an X post, Santiment has shared how the two topics: Binance and BNB are the most trending in the market. Members of the cryptocurrency community suspect that the Binance CEO, Changpeng Zhao has been selling the Binance Bitcoin to help the BNB stay afloat.
😮 #Binance and $BNB are currently the first and third (respectively) fastest rising topics in #crypto. Major allegations point to #CZBinance continuing to actively sell off their share of #Bitcoin to support their own native token and keep it propped up above key support levels. pic.twitter.com/hX7Mun6MuF
— Santiment (@santimentfeed) August 23, 2023
Changpeng Zhao admitted to not caring about the price of the BNB. His primary concern was to # buy new products in the cryptocurrency market.
The price of the BNB token has witnessed a major drop and has dropped to 206$. Initially, the token was at 240$. It was however noted that the price of the token started rising and managed to record an increase of 4%.
Mike Alfred Criticises Zhao’s Decision To Sell Bitcoin Binance Has To Keep The BNB Afloat
Mike Alfred has been posting about the Binance and the Binance CEO recently. He accused Changpeng Zhao of selling a great supply of Bitcoin to maintain the price of the token. In an X post, he stated how the CEO will soon be running out of Bitcoin to get rid of since Bitcoin is growing more stable amidst the crashes that recently took place.
He also added that as much as the BNB price has gone up, they are running out of Bitcoin to get rid of since Bitcoin is becoming more stable amidst the crashes that recently took place. Believing that the price of Bitcoin will soon increase after all of this has stopped, he has encouraged Bitcoin holders using Binance to withdraw their investments.
The Bitcoin price
The price of Bitcoin is sailing around the $26,000 level with the value still being unstable. Bitcoin has dropped from the 29000$ support level since August 16th. Investors believe that this is a usual dumping spree that will set the way for Bitcoin to halve in 2024