The founder and CEO of Binance, Changpeng Zhao, tweeted a mysterious message that sent both his supporters and detractors hurtling in opposite directions. There have been a ton of responses on the tweet, which simply says "Remember 4," with some people thinking that it alludes to a previous article Zhao had made.
Remember 4.
— CZ 🔶 Binance (@cz_binance) March 5, 2023
Zhao stated his list of Dos and Don'ts to keep 2023 simple in a tweet he shared earlier last week. Ignoring FUD (Fear, Uncertainty, and Doubt), fake news, assaults, etc. came in fourth on this list, after education, compliance, product, and service. Users speculate that Zhao may be referring to the latter argument as Number 4. The CEO may be advising Binance users and his supporters to disregard the FUD and other negative news that has been spreading around Binance at the moment with this perplexing tweet.
The New York Department of Financial Services ordered Paxos Trust, which creates and lists Binance's dollar-pegged cryptocurrency, to halt producing more of its BUSD coin, which is the cause of the company's difficult recent weeks. This was followed by a flurry of rumors and smears directed against Binance and the BUSD issuer.
According to Attorney Collins Belton, BUSD—the company's stated instances of having inadequate funds to adequately back the cryptocurrency asset—was the primary driving force for the New York regulator's attack on Paxos. This Binance crackdown does not end here. Paxos severed its relationship with Binance shortly after this occurrence. A few days later, Coinbase stated that BUSD would no longer be listed, and the market value of the leading stablecoin fell to $9.5 billion.