Binance CEO, Changpeng Zhao, is known for being provocative on Twitter. It’s frequently been criticized for being unreliable. In this way, it need not be astonishing that he offered another such comment recently.
Despite the fact that CZ said his latest comment was not financial advice, it obviously was. He told his followers that with an ‘infinite amount of money around the corner,’ they ought to consider putting some digital currency on their credit cards. ‘Might as well,’ he posts on Twitter. He likewise retweeted an ongoing declaration in regards to Binance offering cryptocurrency purchases with Visa with different fiat currencies.
His comments were criticized online for being foolish. In the midst of a worldwide economic crisis, it is apparently unreliable that an exchange CEO is advising users to buy digital currency using a credit card. It is totally separated from the truth of everyday people.
Bro, you're legit suggesting people use credit cards to buy crypto from your exchange. In the middle of global pandemic.
Might wan't to run this by the guys at the office. Could be one of those things that might turn out to be a bad idea.
— Henrik (@ha1331) March 25, 2020
History of Comments
Changpeng Zhao has frequently been condemned for his reckless remarks on Twitter—some clever and some outright reckless. A few comments have been mild, similar to his consistent advice on Bitcoin, which is normally a strong sell signal.
He’s likewise been found trying to siphon Binance Coin (BNB) with a report, which he at that point speedily deleted after criticism. He’s even offered trading exchange, advising his followers not to short BNB or they will ‘get Rekt’.
In any case, a few comments were considerably all the ore concerning. For instance, CZ together with Tron (TRX) founder Justin sun called for the ‘regulation of cryptocurrency news’ a month ago. He said that there was an excess of fake news in the space and that some administrative entity should get control it over, which evoked broad condemnation.
CZ’s reputation on Twitter isn’t acceptable altogether. Indeed, even the essentials of where Binance is found has been in contest for quite a while, which CZ neglected to truly explain.
In the midst of a worldwide economic crisis and uncommon pandemic, many are losing their positions. With these most recent comments, Changpeng Zhao once again shows he is moderately tone-deaf with regards to everyday people as well as their relationship to digital currencies.