Crypto News: Yet another major regulatory enforcement action came for the crypto market on Monday with the U.S. Commodity Futures Trading Commission’s (CFTC) lawsuit against crypto exchange Binance. The lawsuit named the exchange’s Chief Executive Officer, Changpeng “CZ” Zhao over violation of trading and derivatives related regulations. This news came as a setback for traders as Bitcoin price fell below the $27,000 milestone in reaction to the lawsuit. Reacting to this, CZ tweeted referring to an interesting caveat he spoke about before.
Also Read: U.S. CFTC Sues Binance And CEO CZ For Violating Regulations; BNB Price Set To Crash?
CZ Tweets ‘4’ – What It Means
The Binance CEO tweeted the digit ‘4’ immediately after news broke of the CFTC lawsuit against the crypto exchange. CZ has been known to be a highly optimistic and popular voice in the crypto ecosystem. The top exchange had in recent times attracted scrutiny about lack of clarity about its asset reserves. However, it stood out to be the top exchange in terms of transactions and trading volume.
4
— CZ 🔶 Binance (@cz_binance) March 27, 2023
In his own words, CZ recently said digit ‘4’ means “Ignore FUD, fake news, attacks, etc.” This comment came in the form of a warning in early January 2023.
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