U.Today – Changpeng Zhao on Bitcoin Skeptics

Changpeng Zhao, known as CZ, co-founder and former CEO of Binance, addressed skeptics of Bitcoin following its new all-time high of $89,956.

CZ mentions Bitcoin skeptics as BTC hits new ATH

Earlier today, Bitcoin soared to a record price of $89,956, a nearly 10% increase in one day. In a tweet, CZ referenced a list of notable Bitcoin skeptics called "Bitcoin is dead," implying they misjudged Bitcoin's potential.

In 2019, CZ advised against selling Bitcoin under $10,000, highlighting the importance of managing greed and risk. He warned the community to prepare for future fluctuations, stating, “Don’t put all your eggs in one basket.”

FTX Sues Binance and CZ for $1.8 Billion

On Monday, FTX filed a lawsuit against Binance and CZ, seeking to recover $1.8 billion, alleging fraudulent transfers made by Sam Bankman-Fried. The suit claims CZ received funds from a repurchase deal when FTX was purportedly insolvent and also accuses him of misleading tweets about FTX before its collapse in November 2022.

This article was originally published on U.Today