Changpeng Zhao, the former chief executive of cryptocurrency exchange behemoth Binance, has clarified that he did not sell any crypto during the devastating crash that took place earlier this Tuesday.
Earlier today, the leading cryptocurrency plunged to $86,141, reaching the lowest level since November. However, it has since managed to pare its massive losses, currently trading at $94,519. Still, Bitcoin is 19.2% away from reclaiming its current all-time high of $108,786, meaning that it is close to bear market territory.
As reported by U.Today, CZ, who remains a highly influential voice in the crypto community despite being forced to leave his CEO job in late 2023, also recently confirmed that he was not interested in buying new cryptocurrencies (including flashy memecoins).
CZ's cryptocurrency portfolio mainly consists of the BNB token. Bitcoin accounts only for a small portion of his holdings.
Zhao also recalled his highly prescient tweet from 2020, which accurately predicted future headlines from 2025 about the price of Bitcoin crashing to $85,000 from $101,000.
The former Binance CEO is now predicting that Bitcoin will eventually crash from $1 million.
Dan Burgin
Vladislav Sopov