Binance CEO Move Funds for PoR Audit, Warns to Ignore FUD

A crypto analyst, Dylan LeClair, felt “weird vibes” from Binance CEO Changpeng Zhao, due to the movement of funds during an ongoing Proof-of-Reserve audit of the firm. Fear, uncertainty, and doubt (FUD) grew over Twitter after a blockchain tracking platform alerted in a tweet that 127,351 BTC, over $2 billion were transferred from Binance to an unknown wallet.

Is anyone else getting weird vibes from CZ right now? It’s like he’s running the SBF summer playbook:

Public projection of strength and talks of “industry bail outs” while attempting to raise funds.

I’m not claiming anything, but the similarities are… odd.

— Dylan LeClair ? (@DylanLeClair_) November 28, 2022

Furthermore, LeClair expressed how Zhao is “running the SBF summer playbook”. The Binance CEO has made public declarations about strength and support for industry bailouts, as he works towards raising funds. The crypto analyst further clarified that he was not “claiming anything, but the similarities are… odd”, between Zhao and the crypto community’s most controversial man Bankman-Fried.

LeClair goes on to express concern about the recently moved funds by stating that Zhao punched down on weaker exchanges, and pledged $1 billion in BUSD that are still in the exchange reserves. Moreover, Binance’s CEO has also left questions about the audit firm unanswered, which raised suspicion.

He further added without making any claims that, “my BS detector has been set off a few times.” In the thread that continued, he further fueled the FUD fire, saying:

I have no quantitative proof of any wrongdoing, nor am I claiming anything. Not FUD, this is nothing of the like. But skepticism is an absolute must in this industry. Your mindset should be guilty until proven innocent. I am, at the very least, skeptical.

The analyst then warned users to take into account that bad outcomes are possible, instead of “blindly trusting talking heads. Or don’t.” LeClaire gave his users the freedom, to doubt the naysayers or not, depending on their personal judgment.

And amid the ongoing crypto community ambiguity and indecisiveness, he concluded by sharing that, “I don’t trust CZ. It’s not personal, I don’t trust anybody.” The FUD continues to grow as funds continue to move.

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