Changpeng Zhao has described recent online criticism as coordinated attacks, reigniting discussion around Binance’s handling of past market events and the broader role of centralized exchanges in crypto markets.
Former Binance CEO Changpeng Zhao has described recent online criticism as part of coordinated attacks, prompting renewed debate over Binance’s past market controversies and the broader influence of centralized exchanges.
On January 28, 2026, CZ stated that multiple unfamiliar accounts were posting similar criticisms around the same topics, suggesting an organized effort to spread fear, uncertainty, and doubt (FUD). The remarks followed a January 27 post in which he addressed what he called “twisted FUD” surrounding his long-standing advice to “buy and hold.”
The comments quickly prompted widespread responses, with many community members disputing the notion of coordination and framing the criticism as a reflection of unresolved concerns tied to past market events.
Community Pushback and the Shadow of “10/10”
Several responses referenced the October 10, 2025 stablecoin depegging incident — commonly referred to as “10/10” — during which multiple markets experienced sharp dislocations and liquidations. Binance was widely cited in community discussions at the time as playing a role in the disruptions, and the exchange later announced compensation for some affected users.
Critics argued that renewed scrutiny reflects lingering frustration rather than an organized campaign. Some questioned whether criticism from users impacted by the 10/10 event was being reframed as a coordinated attack, while others pointed to public commentary made during the period that attributed responsibility to centralized platforms.
At the same time, other voices noted what they viewed as uneven scrutiny across the ecosystem, suggesting that similar criticism has not been directed at other high-risk areas of the market despite widespread token failures elsewhere.
Broader Market Context
The debate is unfolding amid broader market weakness. Bitcoin remains below late-2025 highs, while many altcoins are still significantly down from their peak valuations. Historically, such conditions have coincided with heightened sensitivity to public statements by prominent industry figures, amplifying sentiment-driven narratives across social platforms.
In parallel, analysts and community members have continued to debate the influence of centralized exchanges on market outcomes, including how visibility, liquidity access, and listing dynamics can shape token performance. These discussions have extended to recent launches and post-listing price behavior, though interpretations vary and many claims remain contested.
DeFi Implications Beneath the Noise
Beyond individual statements or social media disputes, the episode underscores a recurring challenge in crypto markets: the outsized influence of centralized entities and personalities during periods of stress.
By contrast, decentralized finance protocols operating on permissionless exchanges such as Uniswap or Aerodrome rely on transparent, on-chain mechanisms for liquidity and price discovery. While not immune to volatility, these systems reduce dependence on centralized narratives, allowing participants to independently verify activity and assess risk.
For DeFi participants, the situation highlights the importance of separating signal from sentiment — and prioritizing verifiable data, transparent incentives, and decentralized market structures over social media narratives.
A deeper examination of how centralized exchanges shape DeFi outcomes can be found in DeFiHub’s recent Insights report on CEX influence and market structure.
Sources & Further Reading
- BitRSS — Coverage of CZ’s comments on online criticism
- BitNewsBot — Reporting on renewed Binance-related sentiment
- The Block — Binance compensation following October 2025 depegging events