- CEO of Binance commented on unconfirmed information about an attempt to shut down its U.S. unit.
- Zhao said it is FUD that does not stand up to scrutiny for accuracy.
CEO of cryptocurrency exchange Binance Changpeng Zhao commented on media reports that the board of directors tried to shut down the U.S. unit amid regulatory pressure. In his words, this is unverified data that does not stand the test of logic.
“The level of research, verification or even just logical thinking in this ‘news’ is appalling,” emphasized the CEO of the stock exchange.
In his words, such an outcome of the vote is impossible. In this case, the decision is decided by a two-thirds margin. He also emphasized that Brian Schroeder is the CEO of Binance.US and is neither a venture capitalist nor any other investor.
“It’s just FUD,” CZ said
Reminder, earlier media outlets said that Changpeng Zhao was planning to shut down Binance.US to shield the global platform from possible regulatory sanctions.
In May 2023, the US unit’s management allegedly tried to distance itself from CZ. This comes amid a lawsuit by the U.S. Commodity Futures Trading Commission against Binance and Zhao personally.
Remember, the exchange filed a motion to quash it. It says the “foreign activities” that appear in the charge are outside the regulator’s jurisdiction.
According to it.