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Binance’s CZ Responds to Alleged $250 Million Loan

Changpeng Zhao took to X (Twitter) in an attempt to dispel allegations around a supposed $250 million loan he had taken from BAM Management.

BSCN

September 20, 2023

In a recent tweet Changpeng Zhao (CZ), the CEO and founder of the world-leading Binance exchange, sought to dispel allegations that the founder had taken a loan from BAM Management US Holdings, to the tune of a staggering $250 million.

“They got the direction wrong. I loaned $250 million to BAM a while back, not the other way around. And have not taken it back”, reads the post.

In his tweet, CZ includes a screenshot of a Decrypt article which claims “court documents unsealed this week” referenced the alleged financial activity.

CZ’s recent Twitter/X feed has seen the founder attempt to dispel various allegations surrounding the activity of both himself and the Binance exchange.

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