Crypto gossip in the mainstream press alludes to the fact that the crypto industry has embraced the mainstream. All we have to do is watch Reuters digging in for scandal in Changpeng Zhao and his personal life to see if it’s true.
The story just keeps unfolding. Changpeng Zhao (better known as “CZ”), is the Chinese-Canadian founder and CEO of Binance. The platform is the largest cryptocurrency exchange in the world by trading volume.
And, CZ is crazy. TLDR; Reuters has written adverse articles on Binance over the past few months. As the drama played out, CZ’s family was pulled over by reports of gossip. This prompted CZ to post some furious rebuttals. Which, frankly, has been very absorbing.
crypto gossip and doxxing
Here’s the longer version of what happened. Earlier this year, CZ caught the attention of Reuters news agency. The news agency made several claims against CZ in a special investigation.
CZ has not been behind in coming forward with its displeasure in this report. The Binance CEO claims that the authors threatened his family if he did not comply with the information.
Crypto Gossip: blog post retaliation
In a blog post that makes crazy-good reading (with lots of link-in rabbit holes) CZ detailed how impressed he was with the report.
“As a founder, I have learned that having strong, cordial relationships with journalists is a no-brainer. We work hard to respond to their requests quickly and accurately and 99.9% of the times this results in unbiased reporting But on very rare occasions the relationship can break down so much that it is no longer possible to work in a mutual way.
CZ says that a Reuters reporter wrote a series of stories about Binance over several months, but has only used anonymous sources to get at the “facts”.
CZ says that due to a “break in trust”, Binance took the unusual step of posting the entire email chain accompanying the Reuters report. Lush!
Crypto Gossip: The Case of Crypto Being Mainstream
CZ said he was given questions about Binance’s commitment to compliance and CZ’s personal leadership style.
“They are fair topics that I am happy to address. What is unique this time is that they have signaled a new low and crossed the border into uncertain territory. Indicate the intention to report in
This is a big deal, as Binance is currently working with law enforcement agencies around the world to confiscate the assets of criminals. Obviously, this has pissed off a lot of bad guys.
CZ further adds, “My children are not in the public interest and this reporter may be deliberately harming them by publishing information about them. This is doctrinal and unbearable.”
CZ says Binance did not receive assurances that the reporter would not refrain from writing about his family. So instead of answering them directly, they are “taking the story straight to the community.”
Many celebrities know they made it up when news outlets say wildly untrue things about them to get clicks. And of course, fake news is known to spread faster than the truth.
Big celebs are very famous for worrying about false articles about themselves. And that could be the case with CZ now. Binance has been controversial in the past, with a quote from a Binance user Bloomberg declaring that Binance was a “giant shitcoin casino”.
This time, instead of suing, it looks like CZ has decided to blog about it instead. Yes indeed, his clout has grown so much that he doesn’t need to sue. Yes. Crypto is mainstream.
blog post clap-back
Continuing the saga, CZ broke down some of the issues that Binance was accused of. He added that the allegation that crypto is a tool of criminals is a complete myth.
Reuters has reported that Binance was used as a conduit to launder at least $2.35 billion in criminal funds, but failed to provide any details of how that number was calculated. And, note the fact that this represents less than 0.1% of the total funds that have flown through Binance since 2019. Despite Reuters’ exaggerating numbers, it still points to Will ensure that Binance is one of the most effective financial institutions in keeping illicit funds away from our platform. We have zero tolerance for criminal activity.”
Zhao’s family ties
Gossip is never complete with who is the latest squeeze of the person in question. When it comes to crypto gossip, that person is Yi.
Among the co-founders of Binance is a former media anchor and crypto entrepreneur who is quite a lucrative one.
He Yi first met CZ at a crypto conference while working for OKCoin, where Zhao was giving a presentation on blockchain technology. She brought him onboard to OKCoin, but the two then left to start Binance in 2017.
Reuters claims that their unnamed source said that Changpeng Zhao and He Yi had been in love for several years and had children together. Reporting on CZ’s love life in this way pulls this story far from commercial news and firmly into mainstream clickbait territory. Yes indeed, crypto has it built in.
Reuters says, “For many years, Zhao and Yi He were in a romantic relationship, according to four people who knew the couple. They have a son who was born in the United States, the people said. There are usually policies in place regarding such relationships, some of which require one of the people concerned to leave the organization.”
This is hardly the scam of the century that Reuters wants. A Binance spokesperson said, “Two adults starting a family together is not news. The media has known about their relationship for years (which predates Binance).
Crypto gossip is mainstream, ergo crypto is mainstream
CZ said he can live with the occasional negative news. “We are focused on building and improving Binance and the blockchain ecosystem. We are in this for the long haul. It is never about tomorrow, this year or next year. We are building a company like that. Which we believe will last a hundred years or more.”
While CZ was deeply offended by this series of articles, he can console himself with a new idea. The fact that he is cannon fodder for the mainstream clickbait chase shows that crypto has safely made it through all of our lives.
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