Following the sudden drop in Bitcoin (BTC), Binance founder Changpeng Zhao (CZ) issued important warnings to investors about risk management via social media platform X.
CZ argued that market fluctuations are normal and that investments should be kept at manageable levels.
CZ explained, “At the time, selling my house and investing entirely in crypto seemed risky, but I didn't need that money. I was counting on my monthly income. Risk is different for everyone. The market always fluctuates. Learn risk management and keep your investments manageable. Don't over-concentrate your assets. Don't be too greedy in good times or too fearful in bad times.”
However, CZ also spoke about the market reaction following his announcement of purchasing the ASTER token yesterday.
CZ stated that his posts the day before were “over-interpreted,” saying, “I've seen a lot of misinterpretations following my statement yesterday.” He then launched a poll asking, “Should we disclose information in the future?” As you may recall, Binance founder CZ recently announced that he purchased tokens from the decentralized finance platform Aster (ASTER) with his own personal funds. According to the screenshot in CZ's post, he holds 2,090,598.14 ASTERs, with a trading price of $0.913.
*This is not investment advice.
