CZ Responds to Recent Binance FUD: We Don’t Have Liquidity Problems
Changpeng Zhao, CEO of the crypto exchange Binance, discussed the recent allegations about the exchange in his statement on Twitter.
Claims on some social media accounts claimed that Binance was facing regulatory difficulties and may have difficulty processing withdrawals. Senior executives who recently left the company were cited as the reason for this.
In his statement, CZ said that he was aware of the discussions about the company among the community, and that when they do the right things, someone always starts to spread FUD. In addition, he noted that there is no need to say much, as the crypto community has already defended themselves.
Changpeng Zhao denied the negative reports and said that they have no problems with liquidity. He argued that all withdrawal and investment transactions are proceeding as they should, and that the funds are 100% secured and safe.
To counter the negative news, Zhao cited the court wins they won, the withdrawal transactions they said they were able to handle even though they occurred in large amounts, the new fiat money channels, and the new products they launched.
Regarding the recent increase in executive resignations, he noted that the company with the lowest resignation rate from the founding team across companies is probably Binance.
*Not investment advice.