Binance founder CZ: Paying to smear competitors will only damage one's own trust

Binance founder CZ posted on X, stating that spreading FUD to smear competitors for a fee would damage the credibility of his own exchange. He remarked that whether users are willing to entrust their crypto assets to companies that engage in unethical business practices is worth pondering.

CZ also indicated that such behavior would undermine users' trust in the relevant exchanges and could inadvertently provide promotional effects for the smeared competitors, even though this method may be distasteful.

Previously, OKX CEO Star posted on X, criticizing CZ's recent comments regarding compensation for Binance users. Star questioned CZ's description of compensation as a voluntary act, arguing that the previous market crash had already caused losses of billions of dollars, and compensation should not be used as a reason for self-praise, sarcastically referring to his comments with "Who is the Yue Buqun of the crypto circle?"