Binance CEO Flags ‘Massive Conflict Of Interest’ In US DOJ Charges Report

Crypto News: Following reports of the US Department of Justice potentially imposing fraud charges against crypto exchange Binance, the company’s chief executive officer CZ on Thursday flagged a shocking truth about Semafor, the publication that broke the news on Wednesday. Earlier, CoinGape reported that there was news of the DOJ looking to charge the exchange of fraud. In response to the reports, CZ alerted the crypto market community with the “4” warning, meaning it was just an attempt to raise fear, uncertainty and doubts (FUD).

In a latest, the Binance CEO flagged an old tweet from billionaire Elon Musk about Semafor. Meanwhile, it remains to be seen if the US DOJ officials would deliver an official communication about the fraud charges on the exchange, if at all the development is true. Interestingly, the report on Wednesday said the Justice Department officials are wary of a run on the platform if it takes action.

CZ Retweets Elon Musk’s 2022 Statement

CZ retweeted a November 2022 tweet that highlighted Sam Bankman-Fried’s investment in Semafor. This was just around the time when the FTX collapse unfolded, taking the crypto market by a storm with millions of dollars in losses for thousands of users. The tweet from Musk said,

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

On the other side, Binance, the world’s largest crypto exchange by trading volume, had recently recorded 150 million in registered users across the world.