CZ dismisses “BinanceUS platform liquidation plan” reports


Binance CEO confirmed that the recently surfaced news about BinanceUS liquidation was not true and also pointed out several baseless facts. 

Binance is a popular global crypto exchange. In the present time, its American subsidiary BinanceUS is under a legal hurdle, as sued by America’s top two regulatory bodies namely the SEC & CFTC this year. Yesterday several reports alleged that Binance CEO Changpeng Zhao (CZ) was trying to liquidate BinanceUS to get out of the whole legal hurdles & save the Binance platform.

On 3 August 2023, Binance’s CEO responded against the fake & baseless news and said that these media reporters are not doing proper research & failing to maintain the quality of the report.

CZ explained that if the news was true then how the BinanceUS CEO can stop the “company liquidation” decision, as the Binance CEO can take decisions for the future of the company but has no authority/ownership to fight against the board of directors. 

Furthermore, CZ said that even if we count the BinanceUS CEO’s vote against the liquidation plan then a plan to liquidate the BinanceUS exchange would still happen by ⅔ vote. 

According to CZ, the current BinanceUS CEO is only a CEO of the platform & he is not a shareholder and has no direct authority to vote against the decisions made by the board of directors.

In this way, the Binance CEO explained that the whole news was fake and based on baseless points and even they failed to research properly. 

On the same day, CZ shared some Binance successes. He said that the exchange secured an Operational MVP License in Dubai, as a first mover in Dubai, and also Binance Japan officially launched this month.

And now the current number of registered users hits 150 million, which is a very big number over any other crypto exchange.

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