Binance CEO Changpeng Zhao (CZ) has refuted claims that Binance engaged in trading 60,000 BTC on BitMEX during the March 2020 market crash triggered by the Covid-19 pandemic. CZ labeled the allegations as "fake news," dismissing the reports circulating on social media. The controversy arises from accusations that Binance capitalized on the market turmoil, but CZ's firm denial aims to quell the rumors.