Key facts
- Changpeng Zhao said in an X post that no single reason explains the crypto decline and listed several possible factors.
- Zhao cited the planned Anthropic IPO, ETF outflows, security fears including the Binance hack, October CPI and political uncertainty.
- Zhao said "No, Binance did not sell crypto" and that he has been buying crypto personally, converting stablecoins into other assets.
- Zhao said "mid-long term, crypto will continue to grow."
- Strive CEO Matt Cole said Bitcoin fell 19% into the SpaceX IPO and is down 18% heading into the Anthropic listing, per Zhao's post.
- Bitcoin was down more than 14% over the past week and more than 20% over the past month, according to TradingView data.
Changpeng Zhao, founder of the crypto exchange Binance, said in an X post on November 15, 2026 that no one could point to a certain reason for the crypto decline. He listed several possible factors, including the planned Anthropic IPO, which he said could be drawing money from crypto assets into the public listing expected that week.
Zhao referred to a post by Strive CEO Matt Cole, who said a similar crypto drop occurred during the SpaceX IPO earlier in the year. Cole said Bitcoin fell 19% into the SpaceX listing and was down 18% heading into the Anthropic IPO. Zhao also cited ETF outflows, security fears including the Binance hack, the hot October CPI inflation reading and political uncertainty, saying "midterm results have raised concerns about potentially stricter U.S. crypto policy."
Zhao denied rumors that Binance was selling crypto and pressuring prices. "No, Binance did not sell crypto," he said, adding that he had bought crypto over the past few days by converting stablecoins into other assets. He said "mid-long term, crypto will continue to grow."
Bitcoin fell as low as $62,500 before climbing above $64,000, according to TradingView data. The token was down more than 14% over the past week and more than 20% over the past month.