Key Insights:
- Amid the recent clash with Changpeng Zhao (CZ), Elon Musk denied urging users to leave Binance over its alleged 80% market share.
- Changpeng Zhao flagged the claim, while Grok found no matching post on Musk’s account.
- The false quote circulated amid exchanges over Binance’s reported $6.3 billion hack.
Over the recent Binance news, Elon Musk and Changpeng Zhao have both rejected a viral claim that Musk urged crypto users to leave Binance.
The allegation said Musk blamed the exchange’s supposed 80% market share for limiting competition and delaying a bull run. Musk called the quote made up after Zhao warned an X account against spreading false information. Their responses followed recent exchanges about Binance’s reported $6.3 billion hack.
The claim appeared in a post from the account That Martini Guy ₿. It presented the statement as Musk’s position but linked no original post. Zhao replied that the account should not spread false information. Musk then answered in the same thread, saying he had never written anything like it.
Binance News Turns on a Viral Claim Musk Denied
The post attributed a specific argument to Elon Musk about Binance’s influence over crypto markets. It said that users moving funds to other exchanges could restore competition and help create conditions for a bull run.
However, the given account search found no matching statement from Musk. Musk’s reply directly disputed the attribution. “Yeah, I never wrote anything like that. This is made up,” he wrote on X.
His response came after Zhao had publicly challenged the account’s claim. Neither man endorsed the alleged call for users to move funds.
The post gained attention during a continuing discussion of Binance’s recent security breach. The information provided describes a loss of roughly $6.3 billion on October 29.
Their Binance Hack Exchange Set the Stage for More X Posts
In addition to Binance news, Musk had previously made brief posts about the breach, including “Everyday is Zeroday” and a grimacing-face emoji.
Those posts drew a public response from Zhao, who said it was a bad time to troll and asked Musk for support. The exchange followed reports of the Binance hack. The two later traded memes during another difficult market session.
On November 6, Dogecoin co-founder Billy Markus posted that he had woken up and wanted to check the markets. Musk replied with a blurred, red-tinted image referencing Zhao.
The image was described as a nod to red candles, which represent falling prices on crypto charts. Zhao answered with a cartoon showing a character on the ground with an arrow through its knee.
Binance co-founder and co-CEO Yi He later quoted Musk’s image. She shared red- and green-tinted versions alongside a scene referencing the red and blue pills from The Matrix.
Her post asked followers which colored pill they would choose. The exchange continued the public back-and-forth between the company’s leaders and Musk.
Changpeng Zhao and Elon Musk Corrected the Record
The false market-share claim differed from those earlier posts on account of it attributing a detailed, policy-like position to Musk.
It claimed he had identified an 80% figure and urged users to transfer funds elsewhere. The posts on Binance news show how the claim unfolded on X.
An influencer account circulated the alleged quote. Changpeng Zhao challenged it, and Musk denied writing it. Grok’s response in the thread also reported that it found no matching post. The provided information does not establish that the alleged 80% market-share figure was accurate.
