Binance founder and CEO Changpeng Zhao (CZ) has accused FTX of spreading false information about his cryptocurrency exchange Binance.

king of investors reports that Zhao claimed that FTX paid the sum of $43 million to a news organization that reports on cryptocurrencies to produce negative posts and tarnish Binance’s image.

CZ discussed Binance FUD during an ‘Ask Me Anything’ (AMA) session on Twitter.

The Binance founder said that some organizations have continuously generated and published negative news to improve their trading.

He noted that such a media company with crypto skeptics like Peter Schiff, who continues to criticize his brand, lacks understanding.

Zhao admitted that he generally reads and pays attention to the false impression negative articles about Binance create.

However, he said: “I don’t think it will stop, but I don’t think it will bother us as much in the future. People have now come to their own judgments. They’re pretty smart nowadays, most people aren’t fooled by clickbait titles anymore.”

FTX Trading Ltd. is a bankrupt company that previously operated a cryptocurrency exchange and cryptocurrency hedge fund with over a million users before it closed in November 2022. king of investors understands

Speaking about the AI ​​technology that Binance is using, CZ stated that the technology is in use in many parts of the brand.

He added that AI will be further employed within the blockchain industry to improve data analysis and detect critical risk changes.

“For example, approximately 75% of Binance’s customer support is handled via AI, along with risk management, transaction monitoring, fraud detection, and market manipulation detection.

“With machine learning becoming more mature and stronger, there will be more and more applications,” CZ said.