In a recent update on February 22, prominent crypto exchange Binance faced scrutiny following rumors regarding its involvement in ETH loans to rival platform Bybit. Binance founder Changpeng Zhao, known as CZ, took to social media to clarify the situation, ensuring the market that Binance has not initiated any support for Bybit’s operations. CZ emphasized that the trading activities in question are driven by individual market participants, potentially involving significant players, often referred to as whales, who may have independently lent ETH to Bybit. This clarification aims to dispel any misconceptions regarding Binance’s role, reaffirming that the exchange cannot be held accountable for the trading actions of its users. Such clarity is crucial for maintaining trust within the crypto community, especially amid the complex dynamics of crypto lending and trading practices.
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