Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange, says there is an attempt to spread FUD on the market. However, he notes that despite this so-called FUD, the reality is that the crypto industry has made a number of big gains in recent weeks.
Binance CEO: Don’t rely on FUD!
cryptocoin.com As you follow, Changpeng Zhao (CZ), the co-founder and CEO of Binance, has managed to keep its balance sheet strong and retain its employees despite the uncertainty in the market recently. Thus, he thwarted the latest rumors about his company, which is the world’s largest company in its field.
The Binance boss addressed the negative news and rumors in a post on X on September 7. CZ accused bank operations, litigation, fiat channel closures, product liquidations and employee turnovers of creating an atmosphere of FUD (fear, uncertainty, suspicion). In this context, CZ entered its assessments as follows:
I’ve seen some discussions in the community. When you do the right thing and it’s FUD, you don’t have to do anything. The community defends you. Let me summarize. Bank failures, lawsuits, closure of fiat channels, product liquidations, employee turnover, exit markets etc. There has been a lot of negative news/rumor.
Saw some debates in the community. When you do the right thing, and there is FUD, you don't have to do anything. The community defends you.
Let me summarize. There have been a lot of negative news/rumors, bank runs, lawsuits, closing of fiat channels, product wind downs,…
— CZ 🔶 Binance (@cz_binance) September 7, 2023
CZ: Top breakups are a reality, especially in the crypto industry!
Binance boss, “Guess what we don’t have? We do not have a liquidity problem,” he stressed. Accordingly, “All withdrawals and deposits are handled properly. All client funds are safe and 100% guaranteed.” said.
However, observers noted that at least 10 Binance executives left the helm between July and September alone, including Patrick Hillmann, former head of strategy, Mayur Kamat, former head of product, Leon Foong, former head of Asia-Pacific, and Steven Christie, former senior vice president of compliance. . However, CZ said in July that employee turnover is normal for any company. He stated that this is a ‘fact’, especially for those in a rapidly changing environment like crypto.
*Binance General Counsel, Chief Strategy Officer, and SVP of compliance all resign in the same week*
CZ: pic.twitter.com/6RQ5PBb1uH
— Milk Road (@MilkRoadDaily) July 6, 2023
Binance CEO draws attention to gains in the crypto world
In a recent post, CZ said that Binance probably has the lowest founding team turnover of any tech startup of its size and age in the world.
Meanwhile, Binance CEO recently talked about the opening of new fiat channels in the cryptocurrency industry. It also highlighted some gains, such as new product launches, hiring and new markets. He also pointed to some of the gains in the courtroom. He specifically pointed to the victories of Ripple and Grayscale over the US Securities and Exchange Commission.
