Binance has experienced highs and lows, recognizes his boss Changpeng Zhao, alias CZ, in a recent tweet. Nevertheless he and his team have held up so far. Otherwise, the crypto exchange would have collapsed like FTX. Explanations!
In short
- CZ is aware that Binance has gone through several ordeals (negative rumors, legal proceedings, abandonment of crypto partners, etc.)
- The crypto community has always believed in Binance, he exclaims with admiration
CZ at the helm of a strong crypto ship?
Since thefreezing winter experienced by the crypto industryCZ has always demonstrated that Binance knows and will survive any crisis. And he confirmed it by recently saying that his crypto exchange is here to stay.
” I’ve seen some debate in the community. When you’re doing the right thing and there’s FUD, you don’t have to do anything. The community defends you.
Let me summarize. There has been a lot of negative news and rumors, bank runs, lawsuits, fiat channel shutdowns, product cuts, employee turnovers, exit markets, and more.
Guess what we don’t have?
No liquidity problem. All withdrawals (and deposits) are processed correctly. All client funds are SAFU and 100% reserved.
There are also: lawsuits won, bank runs managed and then record deposits, new fiat channels, the phasing out of old products and the launch of new products, new hires, new markets.
Binance probably also has the Lowest founding team turnover rate of all tech startups of our size and age, around the world.
Build. »
By resuming this publication published on X (former Twitter), Decrypt highlighted in particular:
- THE departures of Binance senior executives in recent months (including Hon Ng, his lawyer, Patrick Hillmann, Chief Strategy Officer, or Steven Christie, Vice President of Compliance at Biance);
- THE new products from Binance which replace those deemed obsolete;
- L’absence of liquidity problem within this crypto exchange;
- etc.
What about impacts of this admission on the price of BNB ? At the moment, Binance’s native crypto has not seen any major price changes. At press time, it was trading at $214.24 per unit, down 0.2% over 24 hours.
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