CZ Refutes BNB Token Dumping Claims
Binance founder Changpeng Zhao (CZ) has publicly denied widespread claims that he sold his BNB tokens. These allegations surfaced on social media following reports on October 23rd. CZ's statement comes amidst a period of significant activity for BNB, including a more than 10% monthly price increase and Binance's recent burn of 1.5 million BNB tokens to reduce supply.
CZ States He Has Never Sold BNB Holdings
In a post on X, CZ asserted that he has "never sold any BNB," with the exception of minor amounts used for personal expenses. He clarified that all his BNB tokens were acquired during Binance's initial stages using his own personal funds. CZ emphasized that none of his holdings originated from airdrops or complimentary allocations.
His remarks were made in response to escalating online speculation accusing him of liquidating BNB amidst recent market volatility. Independent analysts examining blockchain data have found no substantial token outflows from wallets associated with CZ, lending support to his claims.
The primary intention behind his post appeared to be curbing the spread of misinformation on social media platforms. CZ's statement garnered immediate attention, eliciting a range of reactions from the cryptocurrency community, with some commending his transparency and others questioning the timing of his clarification.
Community Reactions and Investor Sentiment Surrounding BNB
The cryptocurrency community responded with notable engagement to CZ's post. Supporters characterized him as a "long-term holder," highlighting his consistent retention of BNB through various market cycles. Conversely, some observers suggested that such public clarifications typically emerge only when rumors reach a critical mass and become difficult to ignore.
CZ's direct communication occurred as BNB's value experienced a significant surge, climbing over 10% within the current month. This price appreciation is attributed to increased activity within the BNB ecosystem and Binance's regular quarterly token burn, which effectively removed 1.5 million BNB from circulation. Furthermore, the expanding utility of BNB in Web3 applications and payment systems has also stimulated greater investor interest.
As prices climbed and online discussions intensified, attention shifted towards CZ's personal holdings. Many within the crypto space underscored the importance of founder transparency in fostering trust. CZ's assertion regarding his ownership stake stands out, particularly in contrast to other projects where founders divest substantial portions of their holdings early on.
YZi Labs Report Confirms Zhao's Minimal BNB Supply Share
A report published by YZi Labs earlier this week indicated that CZ personally holds less than 1% of BNB's total supply of 100 million tokens. The report detailed that public investors collectively own approximately two-thirds of all BNB tokens, while Binance's treasury manages around 4–5%.
The BNB Foundation allocates roughly 27% of the tokens for ongoing burns, a mechanism designed to manage inflation. The report also noted the continuous growth in BNB's application across Binance's ecosystem and various decentralized applications.
The BNB token plays a crucial role in facilitating transaction fees and powering smart contracts on the BNB Chain. Analysts suggest that despite CZ's current smaller percentage of ownership, his influence remains substantial due to his pivotal role in guiding the project's future direction and safeguarding its reputation.
His denial of selling BNB aligns with his long-standing public statements emphasizing his focus on project development rather than trading. These remarks echo the ethos established during Binance's nascent stages, where early contributors purchased tokens with their own capital instead of receiving them freely.
CZ's response is consistent with his characteristic approach of clear and open communication, aimed at preempting and dispelling false narratives. His assertion that all his BNB holdings were self-funded underscores his personal dedication to the project's success. On-chain data and independent analyses corroborate his statement, thereby reinforcing the credibility of his claim.
Zhao's recent statements, coupled with BNB's consistent price appreciation and Binance's strategic token burn initiatives, suggest a period of market stability. His actions serve as a reminder that strong, accountable leadership continues to be a vital component in the cryptocurrency space, particularly in an environment where public trust is perpetually under examination.

