Elon Musk Debunks Rumors: Never Criticized Binance's 80% Market Share, Related Remarks Are Fabricated

On November 7, Elon Musk responded to rumors about Binance on X, stating, "I never wrote anything like that; it was fabricated."

Previously, X user @MartiniGuyYT posted that Musk criticized Binance for holding an 80% share of the cryptocurrency market and hindering industry development, and called on users to transfer their funds to other exchanges to restore competition and create conditions for a bull market.

Binance founder CZ subsequently replied to the post, warning against spreading false information and attaching a screenshot from Grok showing that Musk had never made such statements. Musk confirmed beneath CZ's reply that the remarks were fabricated.