Binance CEO CZ Sheds Light on Recent U.S DOJ Fraud Charges Rumors

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After news came on Wednesday that the US Department of Justice (DOJ) was considering filing fraud charges against cryptocurrency exchange Binance, CZ, the company’s CEO, called attention to a surprising reality regarding Semafor on Thursday.

There were rumors earlier that the Department of Justice may file fraud charges related to the transaction. In light of these claims, CZ issued a warning to the crypto market community, indicating that they were an effort to sow FUD.

Undermining Authority

An old tweet from entrepreneur Elon Musk concerning Semafor was just brought to light after being highlighted by CZ. Meanwhile, it is unclear whether or not the US DOJ would issue a formal statement on the fraud charges on the exchange. According to a report published on Wednesday, Justice Department officials are concerned about a possible run on the platform if it takes action. The FTX collapse, which caused millions of dollars in damages for thousands of customers, occurred around this period.

According to Musk’s tweet:

“Semafor is owned by SBF. This is a massive conflict of interest in your reporting.”

The collapse of FTX wiped out billions of dollars, damaged the reputation of the cryptocurrency sector, and slowed the market. On Wednesday, a piece published by Semafor highlighted the potential for US authorities to file fraud charges against CZ and Binance. CZ’s tweet was obviously meant to undermine Semafor’s authority.

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