CZ denies Binance's involvement in Bybit’s ETH deposits

In a recent post on X, former Binance CEO Changpeng Zhao (CZ) addressed speculation about Binance providing liquidity support to Bybit following the recent hack. He stated that the deposits of ETH into Bybit were actions taken by users, not Binance itself. “Probably some whale loaning to Bybit,” CZ stated, while emphasizing that Binance should not receive credit for it. Earlier, crypto news account @solidintel_x reported that addresses linked to Binance and Bitget had deposited over 50,000 ETH into Bybit’s cold wallet. Bybit recently lost $1.46 billion in ETH due to a cold wallet hack by North Korea’s Lazarus Group.