Amid Binance’s ups and downs in the crypto market, the exchange’s recent donation to prominent crypto on-chain sleuth ZachXBT has sparked controversy among the crypto community. Last Friday, ZachXBT was sued by Jeffrey Huang, also known under his pseudonym, MachiBigBrother over a defamation case.

Following the lawsuit, the crypto detective disclosed that battling the case could cost more than $1 million. He then asked his followers to donate funds to a wallet dedicated to his legal costs. So far, the wallet has amassed more than $1 million in donations with the likes of Binance also contributing.

However, among the notable names that have donated, the crypto community has appeared to initiate a heated discussion about Binance’s financial support to ZachXBT.

Binance’s Donation And Its Impact

In a controversial twist, Binance’s assistance – a sum of $50,000 – was directed towards ZachXBT briefly after Machi transferred his Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) to the exchange. The move was interpreted as a gesture of solidarity for the exchange’s ongoing legal conundrum with the US Securities and Exchange Commission (SEC).

Related Reading: Crypto Sleuth ZachXBT Slapped With Defamation Lawsuit: Details

The succession of these events garnered significant attention on Twitter. CirrusNFT, a recognized figure within the crypto community and an acclaimed rug pull survivor pointed out the ironic correlation of the events in a

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Author: Samuel Edyme

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