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Changpeng Zhao, CZ, has taken to X to reveal that he has been facing an active attack from fudders relating to his recent crypto tweet, where he spoke about buying and then holding crypto assets.
CZ facing "coordinated attack" from fudders
Zhao tweeted that he has seen some “twisted FUD” on the “buy and hold” crypto tweet he issued on Jan. 25. In it, he said that he had seen very few trading strategies over many years, as the Binance CEO (now ex-CEO) said, “Very few can beat the simple 'buy and hold.'" That is the strategy CZ prefers to follow himself.
Even though CZ added a disclaimer that this was not financial advice, many began criticizing him for that X post after that.
Today, CZ clarified that this rule (“buy and hold”) does not apply to every single crypto available on the market. He hinted that buying whatever one can find can lead to negative portfolio performance, reminding the audience that not every early internet company was prosperous, and neither are the majority of AI-focused tech startups: “If you "buy and hold" all crypto ever created, you know how your portfolio will perform.”
The majority of companies are bound to fail in every industry, CZ stated, including crypto, and “the few successes will perform exponentially.”
He suggested to those who do not find his tweets useful to simply click the “unfollow” button: “Out of sight, out of mind.”
In a comment to a crypto fan who began to defend CZ, Zhao tweeted that he believes “There is some coordinated attack recently,” picking his tweet as a “topic.”
CZ on top of Forbes list
According to Forbes, CZ is currently in 20th place of the world’s wealthiest people (with Elon Musk sitting in first place), with a net worth of $92.5 billion. A crypto YouTuber on X, Crypto Rover, published a tweet, reminding the community that CZ made his first million dollars when he was 39. He started Binance when he was 40 and, in December, he turned 48.
“You’re never too old to start,” the YouTuber said encouragingly. CZ commented on that, agreeing with the “you’re never to old to start” thesis and added that the real wealth is not always about money. It also includes: “health, loved ones, time, freedom, credibility, principles, positive impact…”
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