Wu Blockchain, the news platform of popular Chinese crypto journalist Colin Wu, did not go easy on Forbes when it said the premier media agency committed inaccurate journalism regarding its article accusing Binance of misappropriating funds.
Read CRYPTONEWSLAND onWu, who regularly publishes crypto updates from his Twitter account Wu Blockchain, simply called the Forbes article as simply “wrong.” He then proceeded to explain why in an article with a detailed analysis.
Disclaimer: The article was written by a person named @0xMavWisdom; upon checking Twitter, the account leads to a reporter for Wu Blockchain.
According to the article from Forbes, Binance was involved in a series of shady transactions involving Circle USD (USDC), although other US dollar-pegged stablecoins like Binance USD (BUSD) were also included.
Wu directly confronted these allegations, explaining that Binance’s partner institutions withdrawing their USDC and asset rebalancing were the more likely explanation. Specifically, institutional customers withdrew their funds upon learning that Binance was going to remove its USDC trading pairs, according to him.
He said toward the end of the article:
“I think Forbes is habitually misled by the definition of labels when it accuses large transfers of Binance-pegged token assets as misappropriation.”
Wu clarified that he has no other reason for writing the article other than to call out Forbes; neither did he reach out to Forbes or Binance prior to publishing.
🚀 Unlock profit potential with top altcoins! 📈 Invest in #DOGE, #ATOM, #KAS, #XLM for…
Ripple's #XRP holdings drop below 45 billion in Q1 2024 as it sold 841.5M XRP…
#BlastUP is committed to fostering a robust community with the Blast ecosystem where everyone benefits…
#Algorand price prints a potential breakout signaling possible upward movement for the asset’s price. #Crypto…
🚀 Top 3 altcoins set for a bullish breakout! 100X gains possible? 🌟 #Crypto #Altcoins…
The #BlastUP token is considered by crypto experts as a hidden crypto gem that can…