Binance CEO Changpeng ‘CZ’ Zhao has recently denied reports that the exchange is planning to delist all US-based tokens. In response to one of the reports, he tweeted that it was “false” and suggested that blockchain has no borders. He noted that Binance had pulled back on certain investments and takeover of bankrupt companies in the U.S., but this was only a temporary measure.
This news follows a Bloomberg report claiming that Binance was looking to end relationships with its U.S.-based partners, including banks. Additionally, the exchange was reportedly reassessing its venture investments in the U.S.
In the past couple of months, Binance has faced increased negative press coverage, particularly after the collapse of FTX. On top of this, the U.S. Securities and Exchange Commission (SEC) recently filed a lawsuit against Paxos, the issuer of Binance USD (BUSD) stablecoin, labelling it as an unregistered security. Furthermore, the New York Department of Financial Services has ordered Paxos to stop minting the stablecoin, resulting in their termination of relationship with Binance.
In light of this, Zhao encouraged people to focus on education, compliance, product and service rather than pay attention to FUD, fake news and attacks. He believes this will help reduce misunderstandings and clear up any confusion.
