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CZ Shows His Concerns Towards Grayscale’s Holdings Validity

It appears the newest claim by Binance CEO CZ “Zhao” may have been inaccurate. This coming directly from the mouth of Coinbase CEO Brian Armstrong.

After a month filled with fear, uncertainty, and doubt, Binance CEO Changpeng “CZ” Zhao brought attention to the newest worry of the moment on Tuesday. CZ proceeded to strike questions towards the current Bitcoin holdings validity by the worlds largest Bitcoin trust, Grayscale. Grayscale has since responded to those concerns by stating they are “unwarranted”. Coinbase, the exchange that holds Grayscales Bitcoin, has also since come out to back its partner against the claims.

In a now deleted Twitter post, CZ wrote, “Just stating ‘news reports,’ not making any claims.” He also included numbers that would discredit the claims of Grayscale and Coinbase.

Quickly firing back was Coinbase CEO Brian Armstrong. He responds on Twitter: “If you see FUD out there – remember, our financials are public (we’re a public company).” Seeming to take a jab at the fact Binance is not a public company and does not disclose their financial information to the public.

Moments after the response of Brian Armstrong there was a quick deletion of the tweet sent by CZ in which he followed with: “Brian Armstrong just told me the numbers “are wrong. Deleted the precious tweet. Let’s work together to improve transparency in the industry.”

Is this an attempt by CZ to bring about attention to Grayscale as he so publicly did with FTX? Possibly bringing about the same fate of then crypto exchange giant FTX? CZ was quick to bring about panic by openly stating his fears concerning the stability of Sam Bankman-Fried’s cryptocurrency exchange FTX. Shortly following that up with the announcement of his liquidation of all his FTT (FTX Native Token) holdings.

FTX is currently in the process of filing for bankruptcy while liquidating their assets which is causing a major pull down of the market. I personally hope that this is not just an attack from CZ in attempts to create a larger hold within the crypto sectors. We can only hope that his intentions are pure and only for the benefit of cryptos future.

What are your thoughts on the new claims from CZ and his intention behind his recent infatuation with “bettering the crypto space”.

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