Connect with us


Binance CEO denies reports of Binance pulling back from U.S. partners



Binance CEO denies reports of Binance pulling back from U.S. partners
Source: Unsplash
  • Changpeng Zhao has denied rumors about Binance Holdings cutting ties with U.S.-based partners. 
  • A recent report claimed that the crypto giant would soon de-list tokens tied to American crypto firms. 

Binance Chief Changpeng Zhao has addressed the rumors about a possible breakup between his crypto exchange and its United States-based partners.

According to CZ, the recent reports claiming that Binance was considering “pulling back from U.S. partners” amid the ongoing regulatory crackdown, are false. 

CZ says Binance is pulling back on investments

A recent report from Bloomberg claimed that Binance Holdings ltd, the operator of the world’s largest crypto exchange, was looking to end ties with its American business partners including banks and service firms.

Citing a person familiar with the matter, the report claimed that the possibility of retreat arose due to the increased regulatory scrutiny that led to issues with its banking partner and stablecoin issuer Paxos.

The report went on to claim that Binance Holdings was “reassessing” its venture capital portfolio in the United States, along with other investments.

Bloomberg’s source also revealed that the company was considering de-listing tokens associated with U.S-based crypto firms, including Circle’s USD Coin stablecoin. 

Changpeng Zhao stated, 

Earlier this week, the Securities and Exchange Commission issued a Wells notice to Binance’s stablecoin partner Paxos, which issues BUSD.

The notice informed the stablecoin issuer of the regulator’s intention to bring charges against the firm. This was followed by an order from the New York Department of Financial Services to stop minting BUSD.

Amid the increasing regulatory pressure, CZ tweeted that his team would be reviewing other projects in those jurisdictions to ensure users are insulated from any undue harm.

Read the best crypto stories of the day in less than 5 minutes

Subscribe to get it daily in your inbox.

Please select your Email Preferences.

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.