On Tuesday, Binance Holdings Ltd, the Digital Assets Exchange said it had “temporarily paused” withdrawals of the major stablecoin USDC.

Changpeng Zhao, Binance’s Chief Executive wrote, “On USDC, we have seen an increase in withdrawals.

These are 1:1 conversions, no margin or leverage involved. We will also try to establish more fluid swap channels in the future. In the meantime, feel free to withdraw any other stable coin, BUSD, USDT, etc.

We saw some withdrawals today (net $1.14b ish). We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us. I actually think it is a good idea to “stress test withdrawals” on each CEX on a rotating basis.

It costs some network fees to run these “tests”. But keeps the industry healthy. Exchange business is simple.”

CZ Not Concerned About FUD

CZ previously responded to Lex Friedman Quote and stated well said.

Lex Friedman, “If you look for a reason to hate a person, eventually you’ll find it. If you look for a reason to celebrate a person, eventually you’ll find it. The former leads to resentment and destructive cynicism. The latter leads to happiness and growth for you and for those you celebrate.”

CZ taking about FUD:  “FUD helps us grow, even though they are thoroughly annoying. You can FUD about someone without explicitly mentioning their name, which spreads awareness. It also helps unite their supporters because it forms a common defense alliance.

We were a new startup, not able to reach all the media outlets. This “competitor” helped us to get the word out. I had many inquiries like: “hey, just read about you, the article is negative, but it’s obviously an attack, so I want to invest in you.

Since then, there has hardly been a week going by without some FUD. We learned the ability to ignore them and keep building. We thank you for all your support over the years. And let’s continue to build together.”

CZ on Avoiding Negativity on Twitter

“How I use Twitter I seek and provide positive energy I block negativity/annoyance I be myself, a normal guy, nothing fancy I interact with our supportive community I retweet when you shill Binance.  I shill BNB once in a while I thank my 300k followers.

I have not met a single person in crypto who didn’t think they got into crypto too late. But we are still early.”