CZ Says Rumors About Interpol’s “Red Notice” Are Not True
Since the CFTC lawsuit last month, Binance, the largest cryptocurrency exchange in the world, has lost a lot of its market share.
In the U.S.’s war on crypto, Binance, the biggest crypto exchange in the world, has become a target. The Commodity Futures Trading Commission made a lot of accusations against Binance and its CEO Changpeng Zhao at the end of March.
Recent research shows that the firm’s market share has dropped by as much as 16% since then.
On April 3, Clara Medalie, the head of research at Kaiko, said that Binance’s share of the global market fell in Q1.
#Binance's market share plummeted 16% over the past 2 weeks.
Also, five days after the CFTC took action, three American investors hired a law firm to file a $1 billion lawsuit against the company.
Institutional-grade blockchain data provider Kaiko says that Binance is still the largest exchange in the world, controlling 54% of the market. It found that Binance’s lost market share had been made up for by Upbit:
“Upbit is the only exchange out of 17 analyzed to claim a significant share of volume, although a lot of recent volume on the Korean exchange is concentrated in XRP trading pairs.”
The report also said that when zero-fee trading ended, most of Binance’s extra volume went away.
On April 3, Glassnode said that people were also leaving the stable coin BUSD from Binance. This comes after Paxos, the company that issued the note, was punished in February. Since the beginning of the year, the amount of BUSD has dropped by 55% and is now worth about $7.4 billion.
It also said that the total USD value of Binance’s reserves has dropped by 45%, or almost $30 billion, but has been stable at $36 billion since the FTX fallout. But it came to the conclusion that Binance had been able to weather the storm so far.
“Despite the developing friction between Binance and regulators, the platform appears to be primarily experiencing a stablecoin shuffle, and remains the largest centralized exchange in the market.”
CZ Interpol FUD
On crypto Twitter, there are rumors that Interpol has issued a “Red Notice” for Changpeng Zhao.
A “Red Notice” is a request to law enforcement all over the world to find and temporarily arrest a person until they can be extradited, turned over, or something similar.
But CZ said that it was a Photoshopped picture, fake news, and more FUD.
