Binance CEO Calls Out Renowned Bloomberg for Publishing Fake News

let atwWrapper,atwContainerWidth,atwSliderBox,atwTotalWidth; function initATWSlider() { atwWrapper = $('.relatedInstruments'); atwSliderBox = atwWrapper.find('.slider'); atwContainerWidth = atwWrapper.width(); atwTotalWidth = atwSliderBox.width(); if(window.domainId === '2' || window.domainId === '3'){ atwWrapper.find('.sliderRight').addClass('js-slider-prev'); atwWrapper.find('.sliderLeft').addClass('js-slider-next'); } else { atwWrapper.find('.sliderRight').addClass('js-slider-next'); atwWrapper.find('.sliderLeft').addClass('js-slider-prev'); } if(atwSliderBox.find('.instrumentBox').length > 6){ atwWrapper.find('.js-slider-next').fadeIn(600); } } function atwMoveRight() { atwWrapper.find('.js-slider-prev').fadeIn(150); $(".slider > :visible:first").hide(150) $(".slider > :visible:last").next().show(150); if(!$(".slider > :visible:last").next().find('.name')()){ atwWrapper.find('.js-slider-next').fadeOut(150); return; } } function atwMoveLeft() { atwWrapper.find('.js-slider-next').fadeIn(150); $(".slider > :visible:last").hide(150); $(".slider > :visible:first").prev().show(150); if(!$(".slider > :visible:first").prev().find('.name')()){ atwWrapper.find('.js-slider-prev').fadeOut(150); return; } } initATWSlider(); //update star icon on adding/removing instrument to/from specific watchlist atwWrapper.on('click', 'label.addRow', function() { let parent = $(this).parent(); let checkedPortfolio = false; parent.find('input[type=checkbox]').each(function () { if($(this).is(':checked')){ checkedPortfolio = true; } }); let closestStar = $(this).closest('.addToPortWrapper').find('.star'); if(checkedPortfolio){ closestStar.addClass('added'); }else{ closestStar.removeClass('added'); } }); //update star icon on creating new watchlist atwWrapper.find('.js-create-watchlist-portfolio').find('a.js-create').on('click',function () { let parent = $(this).parent(); let watchlistName = parent.find('input[type=text]').val(); if(!watchlistName){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); //update star icon on adding new position atwWrapper.find('.js-create-holdings-portfolio').find('.js-submit').on('click',function () { let addPositionForm = $(this).closest('.addToPortfolioPop').find('.holdingsContent'); let amount = addPositionForm.find('.js-amount').val(); if(amount < 1){ return; } let star = $(this).closest('.addToPortWrapper').find('.star'); star.addClass('added'); }); atwWrapper.find('.instrumentBox').find('.shortInfo').on('click',function () { if(!window.ga){ return; } let pairId = $(this).parent().find('.js-add-to-portfolio').attr('data-pair-id'); let pairType = window.atwPairTypes[pairId]; window.ga('allSitesTracker.send', 'event', 'content', 'symbol link clicked', '', { "dimension147":"symbol_link_clicked", "dimension163":"click", "dimension148":"symbol", "dimension162":"content add to watchlist", "dimension161":"article page", "dimension142":"article", "dimension75":pairType, "dimension138":pairId, "dimension118":"2942256" }); window.open($(this).attr('data-href')); }); window.atwPairTypes = {"1057391":"indice","1058142":"currency","1172292":"Equities"};

• Binance CEO tagged a report by Bloomberg as ‘poop journalism.’
• Bloomberg reported that Binance’s reserves comprised primarily of an owned token, BUSD.
• CEO Zhao said its exchange is not the issuer of BUSD, and the tokens remain in the form its user sent them.

Changpeng Zhao (CZ), the CEO of the largest crypto exchange Binance has called out Bloomberg, one of the prominent media agencies in the United States, for publishing fake news about his business.

Based on supposedly reliable data, Bloomberg reported that Binance’s reserves comprised primarily of an owned token, BUSD, the third largest stablecoin. CEO Zhao described the write-up as ‘poop journalism,’ clarifying that its exchange is not the issuer of BUSD. Instead, the third-party company Paxos, under the regulation of NYDFS, had been in charge of the BUSD issuance.

journalism.#BUSD is issued by Paxos, a NYDFS regulated entity, not Binance. The numbers are all wrong too.These are users assets, in the form users choose to store with us. We don't convert for them. pic.twitter.com/YUwg0yaDLN

— CZ Binance (@cz_binance) November 11, 2022

Additionally, CZ said the BUSD tokens under Binance’s watch remain in the form its customers sent them without conversion. Interestingly, Bloomberg has taken down the erroneous news story.

Furthermore, a crypto FUD monger alleged that the Bitcoin-lover country El Salvador could have been exposed to the embattled FTX exchange. However, Binance CEO telephoned El Salvador’s president for confirmation, and the president established that the country never had any business dealings with FTX.

Given the recent insolvency case of FTX, the second-largest crypto marketplace until its bankruptcy, Binance published the balances of its cold wallet addresses for transparency purposes. The exchange controls 475k units of Bitcoin, 4.8 million Ethereum tokens, 21.7 billion BUSD, and other over 590 coins.

#Binance published cold wallet addresses and balances for 6 of our 600 coins. More to come. 475K BTC4.8M ETH17.6B USDT21.7B BUSD601M USDC58M BNBThese were public before anyway, but organized together for your ease of viewing.https://t.co/Jm6dVoDqM5

— CZ Binance (@cz_binance) November 10, 2022

Other popular crypto exchanges like Coinbase (NASDAQ:COIN) and KuCoin have also published details of their cold wallet balances. Last Wednesday, CZ advised the crypto community that asset brokers should avoid using tokens they create as collateral.

Notably, Binance took a financial decision to liquidate its FTX token after an investigative report revealed that FTX’s balance sheet primarily contains FTT tokens rather than independent assets like a fiat currency.

The post Binance CEO Calls Out Renowned Bloomberg for Publishing Fake News appeared first on Coin Edition.

See original on CoinEdition