CZ Denies Rumors of Binance Profiting from Hedging Customer Positions on BitMex

Rumor Denial

Recently, Binance founder CZ addressed rumors circulating on social media regarding Binance hedging customer positions on BitMex to make profits. He clearly stated that such claims are entirely fabricated and emphasized that Binance has never conducted any trading activities on BitMex.

Detailed Clarification

CZ further explained that he has a close relationship with Arthur Hayes, co-founder of BitMex, and is therefore familiar with how BitMex operates. He noted that BitMex processes withdrawals only once per day, which contradicts the rumors about massive profits and high withdrawal volumes.

Addressing Concerns

When asked about the potential motives behind such rumors, CZ expressed uncertainty but reaffirmed Binance’s commitment to transparency and compliance. He urged the public not to believe or spread unverified information.