Binance CEO Mocks Crypto Twitter Panic: 'With Healthy Retrace, Everyone Is Scammer'

Changpeng Zhao, CEO of the Binance crypto exchange, is very sarcastic about the U-turn demonstrated by some inexperienced inhabitants of Crypto Twitter.

Everyone is a scammer

Today, Changpeng Zhao, also known as CZ, mocked those who might have been frightened by a Bitcoin (BTC) price correction. According to him, this price move is nothing more than ‘a healthy retrace’:

Bitcoin does a healthy retrace, suddenly everyone in #crypto is a scammer. What’s the yield YTD?

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To prove his point, he recommended calculating the year-to-day returns of the flagship coin. Actually, it is really high: at the press, it exceeds 165%.

Mr. Zhao admitted that this FUD is mostly spread by crypto newbies. The old hands in blockchain, he says, remain ‘calm and steady.'

Community is angered

By the way, commentators in his Twitter thread demonstrate that they have another reason to be angry besides the slight Bitcoin (BTC) price drop. They ask Mr. Zhao to fix the operations of Binance, in particular - the latency in the transactions and some issues with the log-in page.

Also, some problems with the mobile application have been reported by its users, including lagging stop-losses and order book updates.