One of the talked-about subjects on X (previously Twitter) as we speak was the intense allegations made in opposition to Binance founder Changpeng Zhao (CZ).
An nameless analyst utilizing the pseudonym “Sturdy” on X, in an extended thread of messages, accused CZ and Binance of years of manipulation, market steering, and self-serving practices within the cryptocurrency market.
Sturdy argued that IEOs (Preliminary Change Choices) on Binance had been supported utilizing a “pump and dump” methodology through the 2017–2019 interval, and that the market was intentionally pushed into sharp declines through the 2021–2022 interval. Based on the analyst, Binance demanded token provide from initiatives in change for itemizing after which offered these belongings available on the market, thereby creating strain on costs. Moreover, it was claimed that the change adopted an aggressive stance aimed toward eliminating wholesome competitors within the sector.
The assertion argued that CZ had beforehand carried out such actions comparatively secretly from the general public, however that his conduct had grow to be extra “open and brazen” within the final six months. Sturdy cited a change in his relationship with the US administration as one of many causes for this. It was famous that CZ had beforehand been convicted of cash laundering within the US and acquired a brief jail sentence, and it was prompt that the strain of oversight had decreased with the change within the political local weather.
The analyst additionally claimed that the “crypto-friendly” rhetoric voiced throughout Donald Trump’s presidential marketing campaign didn’t translate into follow, and that some large names had been in a position to transfer extra freely available in the market throughout this era. It was argued that the sharp worth actions, particularly in periods of low liquidity, had been deliberate.
The efficiency of the TRUMP token, promoted by Donald Trump, after its itemizing on Binance.
One of the hanging factors in Sturdy’s claims issues the decentralized cryptocurrency change Aster DEX and its token $ASTER, which was launched within the fall of 2025. The analyst claims that CZ closely promoted this venture, that the value peaked with the Binance spot itemizing, after which skilled a pointy decline. The claims additionally embrace allegations that Binance and associated wallets engaged in heavy promoting of $ASTER throughout this era.
CZ’s tweet earlier than $ASTER was listed on Binance, containing a bullish remark about $ASTER saying “Astober,” and the next worth motion.
Sturdy argued that $ASTER has misplaced over 80% of its worth from its peak, experiencing a pointy decline impartial of basic market situations, and that the crypto market has taken on a weak outlook since October tenth. On October tenth, Sturdy described it as “the largest liquidation occasion in crypto historical past.” The analyst claimed that large-scale quick positions had been opened on some platforms hours earlier than this sharp drop, suggesting it was a deliberate transfer. The claims that CZ was pardoned by Trump throughout the identical interval had been additionally described as “noteworthy when it comes to timing” within the publish.
CZ had additionally tweeted “Now, it’s ‘I want i purchased early season” just a few days earlier than the October 10 crash.
CZ’nin 10 Ekim çöküşü öncesi attığı tweet.
Sturdy claimed that CZ promoted $ASTER buybacks to mitigate the scenario, however concurrently, gross sales continued by way of secondary wallets. It was additionally alleged that a big portion of the Aster DEX workforce consisted of former Binance workers, that the individual introduced because the venture’s CEO was nearly by no means seen in public, giving the impression of a “showcase” construction. Moreover, it was claimed that a good portion of $ASTER’s provide was concentrated in Binance-linked buildings and launched to the market by way of airdrop seasons.
Based on the analyst, CZ’s assertion that he “purchased $2 million value of $ASTER along with his personal cash” quickly relieved the market, however the worth shortly rebounded and resumed a pointy downtrend. Sturdy argued that $ASTER has misplaced roughly 80% of its worth since its peak, performing a lot worse than the general market, and that the cryptocurrency market entered a “distribution part” after October tenth.
The value motion of the $ASTER token after CZ introduced that he had bought it.
Based on Sturdy, CZ carried out these actions secretly from the general public for a few years, projecting a “innocent, pleasant” picture to the surface world. The first cause for this, he argues, was his apprehension in regards to the US administration. The analyst claims that the US considered FTX as a software to manage crypto through the 2021 bull market, however the Sam Bankman-Fried scandal disrupted this plan. Following this, the US administration turned its consideration to CZ, who was convicted of cash laundering and acquired a brief jail sentence.
It has been prompt that the main market crashes skilled throughout 2021–2022 weren’t coincidental. Sturdy claims that the market was intentionally suppressed throughout this era and that the method was a part of an influence battle aimed toward sidelining FTX founder Sam Bankman-Fried (SBF).
Sturdy cited as proof for his claims the faulty drop within the USDe token worth on Binance through the October crash, which triggered a liquidation wave. He additionally included quite a few bullish tweets about Aster from Binance founder CZ.
*This isn’t funding recommendation.
