Binance founder and former CEO Changpeng Zhao, known as CZ, has addressed criticism regarding the delay in publishing the platform’s reserves report. In his response, he denied allegations of intentionally withholding information.
CZ's Response to Criticism
CZ stated that Binance takes snapshots of customer balances on the first of each month, after which the team reviews it. The report is typically issued on the fifth or sixth day of the month. He urged critics to review previous publications before accusing the exchange of transparency issues.
Community Support and Criticism
The community's reaction to CZ's statements was mixed. Some Binance supporters expressed their backing, praising him for being open about the issue. However, others felt that the former CEO should ignore critics to avoid further baseless accusations.
Transparency and Binance's Reputation
CZ continues to strive for transparency and defend Binance's reputation in the digital asset space. He recently commented on Nano Labs’ decision to purchase Binance Coin for $500 million, labeling it a sign of confidence in BNB. His statements aim to combat misinformation and strengthen Binance's position.
Despite his resignation, CZ remains actively engaged in discussions and maintains contact with Binance users, underlining his commitment to keeping the community informed and protecting its interests.
