Former Binance CFO Explains Why Crypto is in a Bear Market: OKX CEO Reacts
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Former Binance CFO Wei Zhou said crypto remains in a bear market because whales were "nuked" around Oct 10-11, transparency concerns at Binance continue to weigh on investor trust, and the next bull run will require the Clarity Act plus blockchain adoption by Google and Meta. OKX CEO Star Xu reposted Zhou’s comments, fueling market speculation and highlighting rivalry between major CEXs; the update emphasizes that regulatory clarity and big-tech adoption are key milestones for crypto adoption and market recovery.
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- Former Binance CFO Wei Zhou outlined major reasons why we are currently in a bear market.
- He said the next bull run will require the Clarity Act, blockchain adoption by Google, and Meta.
- OKX CEO Star Xu reposted Zhou’s comments, leading to market speculations.
Wei Zhou, a former Binance chief financial officer, shared his reasons why crypto remains in a bear market. His comments were later reposted by OKX CEO Star Xu, adding fresh fuel to the long-running rivalry between the two exchanges.
According to Zhou, three factors are holding the market back. First, he said major crypto whales were “nuked” around October 10-11, a period many traders point to as a major market breakdown that damaged confidence.
Second, Zhou argued that transparency concerns around Binance continue to weigh on investor trust. He said some traders still worry the exchange could face ano…
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