Binance co-founder and CEO Changpeng Zhao has quelled recent rumors against his company, ensuring its balance sheet and employee retention remain strong despite recent market uncertainty.
Binance Boss accuse A post on X (Twitter) on Sept. 7 stated that negative news, rumors, bank runs, lawsuits, fiat channel closures, product shrinkage, and employee turnover have created a FUD (fear, uncertainty, doubt) environment.
Saw 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 will protect you.
Let me summarize. There’s been a lot of bad press/rumors, bank runs, lawsuits, fiat channel closures, product scaling back…
— CZ Binance (@cz_binance) September 7, 2023
He then used the opportunity to clarify Binance’s current financial situation:
“Guess what we don’t have? No liquidity issues,” CZ emphasized. “All withdrawals (and deposits) are handled properly. All client funds are #SAFU and 100% held.”
However, observers pointed out that at least 10 Binance executives left between July and September alone, including former chief strategy officer Patrick Hillmann, former product head Mayur Kamat, former Asia-Pacific head Leon Foong and former Asia-Pacific chief executive Leon Foong. District Supervisor Steven Christie. Senior Vice President of Compliance.
However Czech explained Employee turnover is a reality for every company in July, especially those in a rapidly changing environment like cryptocurrency.
Definitely fake, only one this week. They exaggerate everything.
— CZ Binance (@cz_binance) July 6, 2023
In a recent article, CZ stated that Binance “may also have the lowest founding team turnover of any tech startup of its size and age in the world.”
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Meanwhile, the Binance CEO pointed to some of the recent victories in the cryptocurrency industry, such as the launch of new fiat channels and products, new employees, and new marketplaces in addition to some court victories — notably Ripple and Grayscale Investment against United’s victory. State Securities and Exchange Commission.
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