$BNB
- There were rumors suggesting that Binance's actions to defend the BNB price led to a market dump of Bitcoin due to possible cascading effects from BNB liquidation on Venus Protocol.
- Binance CEO Changpeng Zhao (CZ) has refuted these claims, stating that a $30 million amount couldn't significantly influence Bitcoin's price.
- CZ emphasized that $30 million is less than 0.001% of Bitcoin's daily trading volume, indicating that such a small amount wouldn't cause significant market shifts.
- CZ's response aimed to address the spread of FUD (fear, uncertainty, and doubt) and reassure the crypto community about the stability of Binance and BNB.
