Part of the community believes that CZ is referring to Michael Saylor, founder of Strategy, due to the billionaire's comments against proof of reserves.
CZ-Binance
Changpeng Zhao, founder of Binance, piqued the community's curiosity with a simple tweet this Tuesday (27). The executive indicates that someone might be selling Bitcoin, but does not reveal names.
The post has over a thousand comments, most of them questioning who sold their coins while the cryptocurrency price keeps rising.
The bravest took guesses. The main name mentioned is Michael Saylor, founder of Strategy. This is because the billionaire has recently shown opposition to the use of proof of reserves.
Community wants to know who sold Bitcoin after CZ's enigmatic post.
A study by Triple-A reveals that over 560 million people invest in cryptocurrencies worldwide. Meanwhile, Changpeng Zhao, founder of Binance, pointed out that one of these investors is selling their bitcoins.
The post attracted the community's curiosity. The tweet has over 500 thousand views in just a few hours, with a thousand comments questioning who sold their coins.
"He probably sold bitcoins," wrote CZ.
Founder of Binance makes enigmatic post about Bitcoin sale without revealing names. Source: X.
While Grok, X's Artificial Intelligence, points out that the seller could be Mexican billionaire Ricardo Salinas, others pointed out that CZ might be referring to Michael Saylor, founder of Strategy.
This is because Saylor showed opposition to the practice of proof of reserves when asked if Strategy would reveal the addresses holding its bitcoins. In total, his company holds 576,230 BTC (R$ 362 billion).
"The current conventional way of publishing proof of reserves is an unsafe form of proof of reserves," Saylor began. "In fact, it undermines the security of the issuer, custodians, exchanges, and investors."
"It's not a good idea. It's a bad idea. It's like publishing the addresses, bank accounts, and phone numbers of all your children, thinking this will somehow improve your family's security. It doesn't improve your family's security. No institutional or corporate security analyst would find it wise to publish all wallet addresses in a traceable way."
Binance itself updates its proof of reserves monthly, which may have led Changpeng Zhao to question whether Saylor was secretly selling bitcoins.
However, since Strategy is a public company, it would need to disclose this to its shareholders, which undermines this theory.
On the other hand, the billionaire could have sold his own bitcoins. In 2021, Saylor said he owned more than 17,000 bitcoins, but never updated those numbers.
"CZ is too scared to tag the @, but we all know he's subtweeting @saylor," commented a user on the enigmatic post of the Binance founder, showing a snippet of the billionaire's remarks.
CZ is too scared to tag the @, but we all know he's subtweeting @saylor https://t.co/s98EFov6tB
— Pledditor (@Pledditor) May 27, 2025
Michael Saylor talked a lot about proof of Bitcoin reserves.
In another video, nearly 8 minutes long, you can see Michael Saylor's complete response about proof of reserves. His argument is that this compromises the security of companies, without providing any concrete proof.
"The problem with proof of reserves, the way it's done today, is that, first, it's just proof of assets — which is unsafe — and not proof of liabilities," Saylor continued. "Therefore, if you really want security in crypto and take it seriously, my suggestion is: buy Bitcoin and self-custody it."
In 2024, Saylor picked a fight with the community precisely by going against self-custody, stating that investors should trust banks and other large institutions to control their coins.
Now the billionaire argues that the best practice is to hire an audit service from the 'Big Four' to verify that the bitcoins have not been borrowed or something similar.
Such a report would then be signed by the company's financial and executive directors so that they take responsibility for this information under the Sarbanes-Oxley Act.
"Posting a simple wallet that can be traced is just a magic trick from the crypto world."
"I understand why people like this, and it may even seem interesting if you're an exchange," Saylor continued. "But let me tell you what the real lesson you should learn from FTX and Mt. Gox is: don't do business with unstable offshore exchanges run by uncontrolled kids."
Saylor's complete response can be watched in the tweet below.
wtf
The full video is even worse
"If you publish your wallets, that's an attack vector for hackers, nation-state actors, every type of troll imaginable. It creates so much liability you should think twice before you ever do it" https://t.co/ewrpxlBzQ4 pic.twitter.com/UrIazOzEfw
— Pledditor (@Pledditor) May 27, 2025