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<p class="is-style-lead">Binance and its native token BNB (<a href="https://crypto.news/price/bnb/" rel="noopener noreferrer nofollow">BNB</a>) social mentions increase as allegations of market manipulation gain momentum.</p> 
<p>Market intelligence platform Santiment disclosed that Binance ranks first among the fastest-rising trending topics in the crypto scene, with BNB securing the third position.</p> 
<p>A recent report sheds light on the growing social mentions and discussions surrounding them.</p> 
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   <p lang="en" dir="ltr">😮 <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Binance</a> and <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BNB</a> are currently the first and third (respectively) fastest rising topics in <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a>. Major allegations point to <a href="https://twitter.com/hashtag/CZBinance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#CZBinance</a> continuing to actively sell off their share of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> to support their own native token and keep it propped up above key support levels. <a href="https://t.co/hX7Mun6MuF" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/hX7Mun6MuF</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1694221301593112917?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 23, 2023</a> 
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<p>Assignments hinting at Binance’s potential involvement in market manipulation are central to the discussions. The allegations imply that Binance CEO Changpeng Zhao is dumping Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) to bolster the value of BNB and maintain its position above crucial support levels.</p> 
<p> You might also like: <a href="https://crypto.news/terra-blockchain-shuts-down-its-website-to-prevent-phishing/" rel="noopener noreferrer nofollow"> Terra blockchain shuts down its website to prevent phishing </a> </p> 
<p>Santiment’s AI analysis further confirms the reason behind BNB’s increased social mentions. The analysis highlights factors contributing to the interest, including the market manipulation claims. Additionally, it points out BNB’s market dominance.</p> 
<h2 class="wp-block-heading" id="mounting-allegations">Mounting allegations</h2> 
<p>Several prominent figures within the crypto scene have spread these allegations. Amid the recent market bloodbath, tech entrepreneur Mike Alfred <a href="https://twitter.com/mikealfred/status/1694024641973833760?t=rNs_cpymaEx8mUqsK9y9Xw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">alleged</a> that Zhao is dumping Bitcoin again to defend BNB’s position above $200.</p> 
<p>However, in a subsequent remark, he asserted that Zhao’s attempts to uphold BNB’s value falter. Alfred predicts a potential BNB value drop below $200 in the coming days. Furthermore, he anticipates a market rally in Bitcoin once Binance suspends withdrawals.</p> 
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   <p lang="en" dir="ltr">As BNB goes, so goes Binance. And BNB looks sick. BUSD is already dead in the water. If BNB breaks under $200, it could quickly collapse as the rats flee the sinking ship. This could get ugly quickly. Pull any remaining funds while the platform is still operational. Godspeed.</p>— Mike Alfred (@mikealfred) <a href="https://twitter.com/mikealfred/status/1693607889305489879?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 21, 2023</a> 
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<p>Veteran trader Peter Brandt echoed Alfred’s sentiments while responding to his earlier remark. He described CZ and Binance as a global scam.&nbsp;</p> 
<p>Brandt’s criticism extends to BNB, which he deems a “cheap fiat.” He foresees the situation unraveling less favorably for Binance and BNB.</p> 
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   <p lang="en" dir="ltr">I have stated for years that CZ and <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@binance</a> is a global scam and <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BNB</a> just a cheap fiat. Watch it all unravel <a href="https://t.co/B1SRFFWgY0" target="_blank" rel="noopener noreferrer nofollow">https://t.co/B1SRFFWgY0</a></p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1694088863520620736?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 22, 2023</a> 
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<p>In addition, Adam Cochran, a Partner at Cinneamhain Ventures, alleged that the SAFU fund, designed to safeguard Binance’s user funds, may be playing a role in maintaining BNB’s prices.&nbsp;</p> 
<p>He speculates that even the SAFU fund’s actual balances might be dwindling due to the alleged sell-offs of Bitcoin each time BNB declines.</p> 
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   <p lang="en" dir="ltr">6/7<br><br>It’s pretty clear that the SAFU fund and the now non-existent industry fund are what is being used to prop up BNB prices.<br><br>And given the frantic BTC sell off each time BNB dips, I’m guessing the real balances of even the SAFU fund are getting low.</p>— Adam Cochran (adamscochran.eth) (@adamscochran) <a href="https://twitter.com/adamscochran/status/1692955227886850073?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 19, 2023</a> 
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<p>While CZ has dismissed previous allegations from macro analyst Marty, the growing number of voices expressing concerns over market manipulation allegations puts Binance and BNB under increased scrutiny.</p> 
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   <p lang="en" dir="ltr">And where did the $212 magic number come from? <a href="https://twitter.com/hashtag/BNB?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BNB</a> price is determined by the market. A $30m re-buy is less than 4% of a single day's volume. 🤷‍♂️</p>— CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1692935987670774088?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 19, 2023</a> 
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<p>However, some proponents speculate that the recent allegations result from a coordinated FUD campaign against Binance. The firm has come under similar <a href="https://crypto.news/cz-alleges-ftx-paid-43m-to-run-binance-fud-in-media/" rel="noopener noreferrer nofollow">scrutiny</a> in the past. Binance is also battling regulatory hurdles on a global scale amid <a href="https://www.wsj.com/finance/binance-cryptocurrency-russia-sanctions-ddb948c3?st=mi93iaz9odljdsf&amp;reflink=desktopwebshare_permalink" target="_blank" rel="noopener noreferrer nofollow">reports</a> of sanctions violations.</p> 
<p> Read more: <a href="https://crypto.news/us-prosecutors-outline-jury-instructions-for-sbfs-trial/" rel="noopener noreferrer nofollow"> US prosecutors outline jury instructions for SBF’s trial </a> </p>

Binance and BNB top social trends amid manipulation allegations

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