On Tuesday, Changpeng Zhao, the CEO of Binance, came out against the rivals' FUD (fear, uncertainty, and doubt) campaign against the cryptocurrency exchange. However, he said that these assaults helped the business attract allies who wanted to invest in Binance.
Hours prior to Zhao's warning regarding rivals, Sam Bankman-Fried, the founder of FTX and previous CEO, had been detained in the Bahamas.
Zhao discussed how FUDs aided Binance's expansion in a Twitter discussion without naming FTX or Bankman-Fried.
"FUD are extremely bothersome, yet they help us progress.
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Without specifically mentioning their name, you can FUD about someone, which raises awareness. Because it creates a single defensive coalition, it also helps bring their followers together "He composed.
"Five years ago, there were FUD campaigns sponsored by a sizable exchange from day one of the Binance ICO (now very small). Articles with titles like "Why Binance ICO will fail" and "CZ can't write code" appeared out of nowhere."
Because we were a young company, we had trouble getting our message to all the media, said Changpeng Zhao. "This 'competitor' assisted us in spreading the message. I received numerous emails saying, "Hey, I just read an article on you; it's definitely an assault, so I want to invest in you." Since then, scarcely a week has passed without some FUD. We mastered the skill of ignoring them while continuing to construct.
Additionally, the CEO of Binance encourage people to Ignore the fud and keep on building, this is definitely the best time to accumulate more at a discount price
