He insisted that Binance faces "no liquidity issues," dismissing claims to the contrary as baseless.Īs Binance grapples with leadership changes and a complicated legal landscape, the statements from its CEO aim to instill confidence. for Binance Holdings Ltd., announced his departure on Twitter. Previously, CZ dismissed criticisms about Binance's financial stability, which have been mounting since the bankruptcy of the crypto exchange FTX. Brian Brooks, chief executive officer for the U.S. Commodity Futures Trading Commission (CFTC) on Monday for operating what the regulator. In a somewhat veiled reference to ongoing legal issues, CZ also mentioned the current regulatory environment for crypto companies, describing it as "increasingly hostile." As a countermeasure, he revealed that the newly-appointed CEO of Binance.US, Norman Reed, is well-suited to navigate the company through these turbulent waters. The worlds biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. CZ praised Shroder for accomplishing what he "set out to do when he joined two years ago." Zhao believes that all of these developments made Binance.US a more robust entity. In a recent post on the social media platform X, CZ encouraged the public to "ignore FUD," affirming that Shroder departed the company on good terms.Īccording to CZ's statement, under Shroder's leadership, the US branch achieved significant milestones, including raising capital, expanding its product offerings, and gaining market share. Many monero people are assuming that you actually have not enough. Binance CEO: Yes, thats it This is simply not true. Your team is explaining it with network congestions. So some users may sometimes have difficulty with coins withdrawals. The string of exits stirred online discussions, forcing many to wonder if the firm's legal troubles are more severe than initially thought. Changpeng Zhao, or CZ, is the CEO of Binance and a prominent figure in the cryptocurrency industry, known for his contributions to the blockchain ecosystem. Binance CEO: In such large exchanges (like Binance), there are too many transactions - when market moves. The legal allegations include the mishandling of customer funds and selling unregistered securities. The exit of Binance.US top executives has fueled speculation, especially given that Binance and its partner company face lawsuits from the US Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC). When Decrypt asked CZ to comment on this investigation last month, he declined.One day later, two more top executives - Krishna Juvvadi, head of legal, and Sidney Majalya, chief risk officer - resigned from the firm. This brings us to Changpeng Zhao, the founder and CEO of Binance. Published Tue, 12:54 PM EDT Updated Wed, 4:42 AM EDT. The CTFC launched an investigation into Binance for allegedly allowing American traders to place trades that violate existing US regulations. Binance CEO says he’s willing to step down as worlds biggest crypto exchange welcomes regulation. Today, Binance US-the crypto exchange’s marketplace registered in several American states-is in the midst of a confrontation with the US Commodity Trading Futures Commission (CTFC). It all amounts to a lingering question: Where is this giant crypto company based? In 2019, Binance also registered the Binance Investments Company in the Seychelles. What’s more, Binance has previously used this address to register several trademarks of the Binance name and logo. A corporate linkage document previously seen by Decrypt shows the Cayman Islands as Binance’s headquarters. In 2017, the same year Binance left China, the crypto exchange registered Binance Holdings Limited in Georgetown, Cayman Islands. At the time, Binance support staff told Decrypt that Binance operations were running just fine in Malaysia. Five months after that, the Malaysia Securities Commission alleged that Binance was operating illegally in the country. $0.178605 12.24% Terra Classic (Wormhole)īut last year, Malta clarified that Binance is not licensed to operate in Malta.
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