CZ Refutes FT’s YZiLabs Report as “False News”
CZ denies FT’s claims about YZiLabs fundraising and Binance ties, calling the story false and misleading.
- CZ rejects FT’s claims about YZiLabs fundraising.
- States YZiLabs operates independently from Binance.
- Calls the report misleading and categorically false.
Changpeng Zhao (CZ), the former CEO of Binance, has publicly refuted a recent report by the Financial Times (FT) concerning YZiLabs. The article claimed that YZiLabs was raising external funding and hinted at potential connections to Binance. CZ wasted no time in addressing the situation, calling the story “false news” on social media platform X (formerly Twitter).
This quick response was meant to correct what CZ believes to be misleading information that could confuse both the crypto community and investors.
YZiLabs Not Raising Funds or Linked to Binance
CZ made it clear that YZiLabs is not raising any external capital. Contrary to FT’s claims, the project is operating independently and has no financial or structural ties to Binance.
“False news. YZiLabs is not raising money and is independent of Binance,” CZ stated firmly. This clarification is important, especially in today’s environment where misinformation can quickly go viral and affect market sentiment.
By stating this, CZ aims to distance YZiLabs from any assumptions about Binance’s involvement or funding efforts, ensuring transparency and trust in both entities.
Why Accuracy in Crypto Media Matters
In the fast-paced world of crypto, even a small piece of misinformation can create panic or mislead investors. CZ’s public rebuttal of the FT report highlights the importance of responsible journalism, especially when high-profile figures and projects are involved.
The crypto industry is already under intense regulatory and public scrutiny. Misinformation can not only hurt reputations but can also have financial implications. CZ’s firm stance reinforces the need for verified facts and open communication in the space.
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