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Amid ongoing confusion, uncertainty and rumors around the recent departure of Changpeng “CZ” Zhao as Binance CEO, his replacement, the new Binance CEO Richard Teng, took to X (formerly Twitter) to attempt to boost investor confidence.
Soon after CZ announced he was stepping down, Binance critics on X shared their opinions on what lies ahead for the crypto exchange. While some sought details on the source of funds for CZ’s and Binance’s legal proceedings that exceed $4 billion in total, others claimed mistrust due to discrepancies in Binance’s previously shared proof of reserves (PoR).
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