Elon Musk says claim he called out Binance’s 80% market share is made up
Musk denied ever writing the comment after the viral post was flagged as false information, adding no new tension between the billionaire and the exchange.
Key takeaways
- 1Elon Musk denied the claim on 7 November 2026
- 2Binance manages about $171 billion in assets under management
On 7 November 2026 Elon Musk said the viral claim that he called out Binance’s 80% crypto market share was made up. He told reporters he never wrote anything like that. The statement came after the claim circulated on social media.
Degen News reported the claim had already been flagged as false information. The outlet quoted Musk’s denial and noted the post had been circulating for several days. The post had been shared thousands of times before being debunked. No evidence was presented that Musk ever made such a remark.
Binance is the world’s largest crypto exchange, managing roughly $171 billion in assets under management, according to YourKhabri’s 1 November report. Musk, chief executive of Tesla and SpaceX, has previously commented on Binance‑related security incidents, describing a recent hack as a “zeroday”. His public profile gives weight to any remarks about the sector, which is why the denial attracted attention.
The denial suggests there is no fresh feud between Musk and Binance, and it is unlikely to alter regulatory scrutiny of the exchange. Traders will watch whether Musk’s other crypto‑related comments, such as his earlier warning about “neocloud” consolidation, trigger market moves. The episode also shows the speed at which false claims can spread in the crypto community.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.