Did Binance CZ Roast Coinbase Chief for Selling Shares?
  • Coinbase CEO Brian Armstrong sold shares worth $291.8 after stocks went live at Nasdaq.
  • Binance CEO Changpeng Zhao said they haven’t sold any BNB from the ICO days.
  • However, CZ clarified that his tweet was not aimed at Armstrong.

Coinbase CEO Brian Armstrong sold $291.8 million of his shares in the wake of Coinbase’s IPO listing. This did not sit well with many crypto fans. Meanwhile, Binance CEO Changpeng Zhao (CZ) wrote a tweet which was timed almost perfectly with the selloff.

CZ explained that all Binance Coin (BNB) allocations for the Binance team from the ICO days will be burned. At the time of his writing, these would have been worth $37 billion.

Those who read the post would have thought that CZ was burning Armstrong. However, CZ was quick to post another tweet in which he clarified that his previous post was not necessarily aimed at Armstrong. Specifically, he wrote that he is “not against people cashing out” and that it’s their “right and choice”.

“Brian [Armstrong] worked hard for 9 years, and built a path for others to follow, and a milestone for the industry. Kudos!”

One commenter wrote that CZ could have used the money to help people. In reply, CZ said that they already have Binance Charity and that they only get a commission from their services and not from the BNB itself.

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