November 15, 20261 min read0 views

CZ Says Binance Did Not Sell Crypto, Bought During Market Drop

CZ said Binance had not sold cryptocurrency and that he bought crypto over the past few days after receiving stablecoins. He also joked that his own buying might have been one reason the market fell.

He listed five possible pressures on the market. Funds may be shifting toward an Anthropic IPO, while U.S. spot Bitcoin (BTC) exchange-traded funds…

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CZ said Binance had not sold cryptocurrency and that he bought crypto over the past few days after receiving stablecoins. He also joked that his own buying might have been one reason the market fell.

He listed five possible pressures on the market. Funds may be shifting toward an Anthropic IPO, while U.S. spot Bitcoin (BTC) exchange-traded funds recorded about $1.9 billion in net outflows over seven consecutive trading days through Nov. 13. Ether (ETH) funds also had outflows.

CZ also pointed to security concerns, including a Binance hack, theft from an iPhone-linked crypto wallet, a Chrome vulnerability and a Microsoft system failure. He said hotter U.S. inflation, rising expectations of another Federal Reserve rate hike, a stronger dollar and higher yields may weigh on risk assets.

Political uncertainty after U.S. midterm election results and worries about tighter crypto regulation were other possible factors. CZ said the selloff’s true cause was unknown and that correlation does not establish causation. He remains optimistic about the crypto industry’s long-term growth.