Binance CEO CZ criticized the banking system for repeated bank failures in the wake of the Credit Suisse merger and the recent collapse of Silicon Valley Bank. The emergency merger between Credit Suisse and UBS Group are set to wipe out the Credit Suisse’s risky additional tier 1 bonds (AT1bonds) worth a total of $17.3 billion. Although the banking crisis wiped out massive value for investors in the stock market in last few weeks, the crypto market took a bullish turn.

 In what could be yet another setback for crypto exchange Binance and its CEO ‘CZ’, latest reports suggest CZ secretly had access to $400 million worth funds supposedly believed to belong to Binance US users. This could prove to be fatal for Binance if proven to be true as the US Securities and Exchange Commission (SEC) is already tightening rules around user asset custodian services. The allegations of bank transfers from accounts belonging to Binance US follows the SEC’s restrictions of the BUSD stablecoin recently.

Binance.US executives showed concerns about the outflows because the transfers were taking place without their knowledge.

According to CZ's Twitter：BUSD, even though called Binance USD, is NOT issued or redeemed by Binance.

Fortune and Mark Wahlberg’s Unrealistic Ideas will supposedly create a documentary that will reveal “a personal look at the entire FTX saga.”

According to a recent analysis, crypto investors have started withdrawing their digital assets from the Binance crypto exchange in recent weeks following the demise of the rival FTX. And, in spite of CEO Changpeng “CZ” Zhao’s reassurances that the crisis had been brought under control, the rate of outflows is only increasing. Customers withdrew a net amount of 360 million dollars on Friday and it certainly seems like the world’s largest digital asset exchange, Binance, is having trouble maintaining its holdings.

Binance CEO CZ @cz_binance on Twitter:" In 2022, #Binance spot matching engine achieved 100% uptime and availability, with 6 live upgrades, zero P0 or P1 incidents. First time in our history. Good jobs, interns! Knock on wood. Let's continue that into 2023 and beyond.  "

Binance boss Changpeng 'CZ' Zhao has sent a 'personal' email to the multitude of retail investors who use his centralised exchange, assuring them that everything is above board on the world's largest crypto platform.

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On Wednesday (14 December 2022), CZ, who is Co-Founder and CEO of the world’s largest crypto exchange (by trading volume) shared his thoughts on people holding their own crypto.