Did Binance lose 90% of its users? CZ denies allegations

Recently, rumors circulated around Twitter when a news site reported that Binance had lost 90% of users after implementing KYC. The CEO of Binance, Changpeng Zhao denied the allegations, calling it a “misquote.”

This change sparked controversy when a Twitter account quoted a statement said by Tigran Gambaryan, who is one of the Binance compliance officers, in an interview with CoinDesk.

In the interview, CoinDesk asked the compliant officer about the withdrawal limit and if there was a decline in illicit activity. To which Gambayran replied,  “There is nothing that screams that Binance is a den of criminal activity, and that’s what I wanted. I wanted to kind of put something out there that [supports] this.”

After that, he said, “There are other exchanges that continue to do business with them. We have lost 90% of customers after implementing KYC, losing billions in revenue,”  But this statement was turned into something else when news outlets quoted his words out of context that Binance had lost 90% of its users.

The article surfaced around on Twitter and many people criticized the page for not investing it right. At the same time, Binance’s CEO, Changpeng Zhao quoted the tweet and called it a “misquote.”

Later he retweeted an account’s tweet @FatManTerra who claimed that Reuters reporters have been asking them for their anti-Binance sources. The user believes that a big party is in an information war against Binance.

“I'm 90% certain people are being paid big bucks to FUD Binance in the media,” said @FatManTerra.