Changpeng Zhao, the CEO of Binance, dismissed reports about the exchange exiting the US market due to pressure from regulators.
Hours ago, reports emerged that Binance was considering cutting ties with its US business partners. An unidentified source claimed Binance could delist tokens from US-based projects, including USD Coin (USDC). They also alleged that Binance was reevaluating venture capital investments in the US.
In response, CZ stated that the report was false and referenced an earlier statement about ignoring “FUD, fake news, attacks.” The CEO of Binance admitted that the company refrained from bidding on bankrupt US firms.
“We pulled back on some potential investments, or bids on bankrupt companies in the US for now. Seek permission first.”
Similarly, Reuters said Binance had secret access to a Silvergate Bank account owned by its subsidiary, Binance.US. It reported that Binance transferred $400M from this account to trading firm Merit Peak Ltd at the beginning of 2021.
However, a spokesperson for Binance.US soon responded that the report contained outdated information. She claimed that only employees of Binance.US have access to the firm’s bank accounts and added,
“Merit Peak is neither trading nor providing any kind of services on the Binance.US platform.”
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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