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CZ publicly shut down claims that Binance was hiding its proof-of-reserves, calling it routine delay.
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Binance’s June report confirms 1:1 asset backing, with a serious improve in BTC holdings.
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The FUD got here from dealer James Wynn, identified for main Hyperliquid losses and controversy.
Don’t attempt to unfold rumors round CZ!
In crypto, doubt spreads quick particularly when it targets large names like Binance. One tweet is all it takes to fire up worry, gas hypothesis, and ship social media into overdrive. However this time, the response got here simply as quick and straight from the highest.
Right here’s what the twitter buzz is all about.
Wynn Claims Binance Is Hiding Its Reserves
Over the weekend, Hyperliquid dealer James Wynn accused Binance of skipping its month-to-month proof-of-reserves (PoR) replace – one thing the trade sometimes publishes initially of every month.
His since-deleted put up learn: “BINANCE HAS STILL YET TO POST PROOF OF RESERVES ‼️‼️ Binance has notoriously posted their proof of reserves on the first of each month!!”
The message sparked considerations round transparency however Changpeng Zhao (CZ) was fast to reply.
CZ Slams FUD
CZ shut down the declare with a brief reply on X:
Bruh… FUD. 4. Binance normally takes a number of days to publish. Often on fifth or sixth. The snapshot is taken on the primary. Examine the historical past correctly please.
Thanks on your consideration to Binance. 😆
— CZ 🔶 BNB (@cz_binance) July 4, 2025
In response to him, Binance takes a snapshot of reserves on the first of every month, however the precise report is launched a number of days later after verification. This has been the usual course of for months.
Whereas some customers appreciated the clarification, others felt CZ was giving an excessive amount of consideration to a put up that didn’t deserve it.
June PoR Confirms Sturdy Backing
Binance’s June proof-of-reserves report is already out and it confirms that every one consumer belongings stay backed 1:1.
The info additionally exhibits a large improve in BTC holdings, with Binance’s non-customer Bitcoin steadiness leaping from 2,746 BTC in February to 606,080 BTC in June. ETH and SOL balances stay low, indicating a stronger Bitcoin place.
Who Is James Wynn?
Wynn has grow to be identified for dangerous Hyperliquid trades and a few very public losses, together with a $100 million missed revenue. He’s additionally been asking for donations to maintain buying and selling and beforehand promoted a token linked to Andrew Tate, which is now down 97% from its peak.
Now, he seems to be making a shift towards loud commentary nevertheless it backfired this time.
He even replied to CZ’s clarification.
Good to know!
Thanks for thus kindly informing those who was questioning / unaware…
— Wynn, James Wynn (@JamesWynnReal) July 4, 2025
CZ Is Nonetheless a Key Voice in Crypto
Although not CEO, CZ continues to play a number one position in defending Binance’s fame. From addressing misinformation to backing strategic strikes like Nano Labs’ BNB-only reserves, he hasn’t stepped out of the highlight.
In a current interview with Anthony Pompliano, CZ shared his views on crypto, management, and the business’s future displaying he’s nonetheless very a lot concerned.
And with regards to on-line FUD, he retains it easy: right the info, transfer on.
