Overview
- Changpeng Zhao labeled the allegation as fake news and said Binance never traded on BitMEX, tagging co-founder Arthur Hayes to underscore the point.
- The claim originated from a viral post by Flood, the CEO of fullstack_trade, asserting Binance captured more than 60,000 BTC in hedge profits during the March 2020 selloff.
- BitMEX stated it has no records of the alleged flows and noted it has since upgraded from batched daily withdrawals to real-time payouts.
- Market commentators called the scenario technically impossible given BitMEX’s once-a-day withdrawal process in 2020 and argued no firm would lock up 60,000 BTC during a crash.
- Some critics remain skeptical due to Binance’s past controversies, keeping the dispute active across social platforms despite the denials.