Binance Founder CZ Addresses Crypto Market Volatility, Encourages Decentralized Wallets

Binance founder Changpeng Zhao, also known as CZ, addressed the recent volatility in the cryptocurrency market following a significant downturn. In a social media post, CZ attributed the market fluctuations to false news regarding Alpha’s coin listing decision and highlighted the potential harm of misinformation on market stability. He added that he was surprised by his portrayal as a single cause for market movements, clarifying that events are often driven by broader factors like customer activity. CZ ultimately advised investors to utilize their own decentralized wallets for increased control over their cryptocurrency assets. This statement underscores the importance of independent financial management and emphasizes the value of self-custody in the context of volatile markets.