Binance founder Changpeng “CZ” Zhao drew widespread attention on Monday after tweeting “Poor again” following Bitcoin’s drop to $60,000 in early Asian trading on Friday. The comment came amid broader controversy over Binance’s role in recent market turbulence, including a sharp sell-off that briefly pushed Bitcoin below $75,000.
The tweet quickly triggered strong reactions from investors, reflecting ongoing frustration in the retail community. Crypto commentator Nebraskangooner responded sharply, saying, “You dumped the market, and now you’re mocking everyone for being poor? Weird flex.” The comment captured the sentiment of many retail traders who suffered losses amid speculation that Binance may have influenced the market decline.
Earlier this week, CZ addressed allegations he called “pretty imaginative FUD,” denying claims that Binance sold $1 billion in Bitcoin to trigger the sell-off or that he single-handedly “canceled the crypto supercycle.” He clarified that Binance wallet balances reflect user deposits and withdrawals rather than proprietary trading and explained that conversions of the exchange’s SAFU fund from stablecoins to Bitcoin would occur gradually over 30 days. CZ also joked that if he could control the crypto supercycle, he would be “snapping his fingers all day long.”
Despite his explanations, Nebraskangooner’s response highlights the tension between retail investors and large exchanges. Many community members also pointed to Binance’s alleged role in last year’s October 10 crash, which wiped out billions in leveraged positions. Industry peers, including OKX founder Star Xu, publicly criticized Binance following the event.
Separately, CZ exposed a long-running misinformation campaign against him and Binance involving a fake account named “Wei 威 BNB.” The account, which had 863,000 followers and used images from a BNB Chain event, initially appeared supportive but posted critical content about the exchange. CZ revealed that photos of him and Binance executive Yi He were altered, and one image featured a shirt he does not own. He also noted that the account’s history indicated it had been hacked or sold, originally posting unrelated female content before switching to crypto posts in 2015. CZ described the campaign as “lazy” and suggested it was likely orchestrated by a competitor more focused on undermining Binance than building their own business.
The episode underscores ongoing scrutiny of Binance and CZ, as well as persistent retail frustration over market volatility and the perceived influence of major exchanges.
