Bitcoin

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Santiment on-chain data vendor has published a tweet about the two fastest-growing topics discussed in the crypto community. 
They are <a href="https://u.today/binance-coin-bnb-price-could-see-30-crash-if-it-doesnt-do-this" rel="noopener noreferrer nofollow">Binance and BNB</a> and their relation to the Bitcoin price. A lot of allegations have been emerging, per Santiment, that the co-founder and chief of Binance, Changpeng Zhao (CZ), has been selling the supply of Bitcoin held by Binance, hoping it will help him to prevent Binance Coin (BNB) from crashing to zero. 
<blockquote class="twitter-tweet"> 
 😮 <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> and <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" 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" rel="noopener noreferrer nofollow">#crypto</a>. Major allegations point to <a href="https://twitter.com/hashtag/CZBinance?src=hash&amp;ref_src=twsrc%5Etfw" 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" 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" rel="noopener noreferrer nofollow">pic.twitter.com/hX7Mun6MuF</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1694221301593112917?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 23, 2023</a> 
</blockquote> 
<h2 id="cz-accused-of-selling-bitcoin-to-keep-up-bnb-price">CZ accused of selling Bitcoin to keep up BNB price</h2> 
In multiple interviews and tweets in the past, CZ claimed that he does not care about the BNB price, but his goal is to #buidl (a word changed to be similar to "hodl") new products in the crypto space. 
Since Aug. 14 alone, <a href="https://u.today/opensea-ceases-supporting-bnb-smart-chain-heres-why" rel="noopener noreferrer nofollow">BNB has lost</a> 14%, dropping from the $240 level to $206 today. However, a few hours ago, the native token of Binance began rising, staging several consecutive green candles and growing by almost 4%. At the time of this writing, BNB is changing hands at <a href="https://www.tradingview.com/chart/3lWxXcMJ/?symbol=BINANCE%3ABNBUSDT" rel="noopener noreferrer nofollow">$215.1 per coin</a>. 
Starting from April, BNB has dropped even lower as, back then, it traded at $348 per coin. 
<h2 id="mike-alfred-slams-cz-for-selling-customer-bitcoin-to-stay-solvent">Mike Alfred slams CZ for "selling customer Bitcoin" to stay solvent</h2> 
Among the critics of Binance and CZ in particular has been prominent crypto investor Mike Alfred. Over the past few days, he has been tweeting about CZ and Binance, accusing the crypto billionaire of selling loads of <a href="https://u.today/3rd-biggest-bitcoin-btc-holder-in-world-heres-whos-behind-it" rel="noopener noreferrer nofollow">Bitcoin</a> to keep his BNB token afloat. 
Today, he tweeted that "CZ may be running out of BTC to dump" as Bitcoin crashes are getting "less and less impactful" and show decreasing magnitude. He added that while BNB has been able to rise to $207, "it's taking a truly herculean effort to hold it up there." 
<blockquote class="twitter-tweet"> 
 These BTC flash crashes are getting less and less impactful. Decreasing magnitude. CZ may be running out of BTC to dump. Meanwhile, BNB perched precipitously at $207. It's taking a truly herculean effort to hold it up there.— Mike Alfred (@mikealfred) <a href="https://twitter.com/mikealfred/status/1694100074253742346?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 22, 2023</a> 
</blockquote> 
Once CZ stops selling Bitcoin, the BTC price will begin going back up, Alfred believes. However, he is urging everyone to withdraw their Bitcoin from Binance: "If you have coins deposited at Binance you should be ashamed of yourselves for funding this racket." 
Currently, Bitcoin is changing hands at the $26,000 level, trading sideways over the last several days. Since Aug. 16, BTC has lost approximately 10%, crashing from above the $29,00 price mark. Some, however, believe that this is a typical BTC dump before the upcoming halving, which is expected in April-May next year.

CZ of Binance Alleged to Be Pushing Bitcoin (BTC) Price Down, Here's How

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