Binance CEO Changpeng Zhao, widely known as "CZ," took to Twitter on Wednesday to deny rumors of an altercation with an American inspection agency in Asia, which, according to viral posts, ended in him pulling out an AK-47 and being "wasted."
Zhao responded in a tweet to the apparently false information spreading across social media, stating, "This is the 2nd time I got wasted imaginarily in Asia news. Last one involved a basement full of #BNB."
The bizarre story of a gunfight seems to be the latest in a series of damaging narratives about Zhao circulating in Asia, the veracity of which he fervently denies.
Zhao's frustration was apparent in his subsequent tweet, where he sarcastically commented on the sheer absurdity of the rumor, "Oh, and I got shot 27 times... Who TF comes up with sh*t like these?"
Such unfounded rumors have amused some on social media, but they also raise broader concerns about misinformation, particularly in the mercurial crypto industry.
It is important to note that this situation comes against the backdrop of Zhao being named in a recent lawsuit by the Securities and Exchange Commission (SEC). The lawsuit alleges that Zhao, along with other defendants, transferred customer funds from Binance, the world's largest cryptocurrency exchange, to another company under his control.Despite these challenges, Zhao appears unfazed, at least publicly.