Changpeng Zhao, co-founder and former CEO of Binance, widely known as CZ in the crypto community, addressed his audience on the X platform regarding Bitcoin's new record level.
Bitcoin's High and Zhao's Reaction
Today, the leading cryptocurrency Bitcoin reached a new all-time high of $89,956, resulting from nearly a 10% increase over the last day. In his tweet, Changpeng Zhao shared a link to the 'Database of notable Bitcoin skeptics'. 'If you believed any of these guys, then blame yourself,' stated the former Binance boss.
Risk Warnings from Zhao
On Saturday, Zhao also commented on the earlier Bitcoin high of $77,252, warning investors and holders to 'control their greed'. According to Zhao, Bitcoin might show multiple new highs and lows in the near future, and he advised the community to 'apply proper risk management'. 'It's important to handle future highs and lows. Don't put all your eggs in one basket,' he added.
FTX's Legal Claims Against Binance
On Monday, it was reported that the non-functional crypto exchange FTX and its current management have filed a lawsuit against Binance and Changpeng Zhao to recover $1.8 billion. Bloomberg reports that the lawsuit claims the funds were 'fraudulently transferred by Sam Bankman-Fried'. Zhao and several other Binance executives received the money as part of a buyback deal with SMF in July 2021.
Changpeng Zhao remains a key figure in the cryptocurrency world, and his statements and actions attract community attention and influence markets, while legal battles between major exchanges add uncertainty.
