![]() ![]() (Updates to add warnings to banks in bullet points three and four. Binance Holdings Ltd., branded Binance, is a global company that operates the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. dollar transfers are used by only 0.01% of the platform’s monthly active users, he acknowledged the inconvenience for customers and said the company is working to resolve the issue.īinance said it aims to restart the service as soon as possible, but didn’t provide a date. in more than a hundred countries, including Canada, Australia and France, according to its official website. On the Bloomberg Billionaires Index, Zhao, known as CZ in crypto circles. The regulators wrote that issuing or holding crypto assets on a decentralized network is inconsistent with safe and sound banking practices, but added that organizations should not be discouraged from providing such services if permitted by law.Ĭustomers at Binance.US are not affected by the suspension, according to a tweet from Binance.US Customer Support.īinance itself runs all of its exchanges outside of the U.S. On Monday, Bloomberg that Zhao’s net worth is 96 billion, which would make him the 11 richest person in the world. Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) issued a joint statement to warn banks of the risks associated with crypto assets. The failure had repercussions throughout the industry, with companies such as Genesis Global Capital and BlockFi filing for bankruptcy, and undermining trust. Last November, Binance’s rival exchange FTX collapsed, with the founder Sam Bankman-Fried now facing multiple charges of fraud and money laundering. The Chinese-Canadian coder cut his teeth building high-frequency trading. Some setbacks were expected from last year’s incidents,” Zhao tweeted early morning Tuesday in Asia, without defining what the incidents were. Changpeng Zhao, who goes by CZ, is the founder and CEO of Binance, the largest cryptocurrency exchange in the world. “While some banks withdrawing support for crypto, other banks are moving in. ![]() See related article: Binance’s BUSD-peg stablecoin has not always been fully collateralized: report Fast facts Zhao has been trying to sell at least some of his stake since last summer, one of the people said. Binance CEO Changpeng Zhao reportedly blasted his rival Sam Bankman-Fried for destabilizing the entire cryptocurrency industry in text messages sent just hours before FTX tumbled into. ![]() Binance chief executive Changpeng Zhao indicated in a separate Twitter post it was caused by “some banks withdrawing support for crypto.” Binance.US and Changpeng Zhao, the crypto exchange’s founder, majority owner and chair, have been exploring ways to reduce his stake in the company, two people familiar with the matter said. 8, the company said in a Twitter post on Monday in the U.S. dollars at its international exchanges from Feb. The Compliance function is in great hands with Noah Perlman.Binance, the world’s largest cryptocurrency exchange, will suspend all deposits and withdrawals of U.S. “I am proud of the Compliance program at Binance, the work that is done day in and day out, and have nothing but respect for the highly talented individuals that dedicate themselves to doing the right thing. Binance CEO Changpeng Zhao breaks down how he built the worlds largest crypto exchange in 180 days and shares why hes keeping most of his assets in Bitcoin and Binance Coin. “So my departure is far less sensational than any article might make it out to be,” he said. Binance CEO Changpeng CZ Zhao responded to recent media reports on several top executives leaving the company, calling them an attempt at spreading FUD, the industry's colloquial acronym for fear, uncertainty. At this point, I am simply tired,” wrote Christie.Ĭiting health and family reasons, Christie added that he needs to spend more time at home because "as any 'happily' married person out there knows, happy wife = happy life.” Binance CEO Calls Reasons Behind Employee Turnover 'Completely Wrong'. “I have been in crypto compliance since 2015 when I joined Xapo, spending the last ~6 years straight leading and growing the Compliance functions at Kraken and Binance without a break. In a similar vein, Christie confirmed that he’s indeed leaving Binance, but the reasons for his departure "are very different than what was reported.” I continue to respect and support and am grateful for having had the incredible opportunity to work under his… It’s true that I am leaving but I’m doing so on good terms. Apologies for any typos, but I was not expecting to be tweeting about this today. ![]()
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