• Binance CEO Changpeng ‚CZ‘ Zhao has denied reports that his exchange is looking to sever ties with US-based projects.
• Reports claimed Binance was planning to delist all US-based tokens, including USD Coin (USDC).
• CZ acknowledged that Binance had pulled back on some deals and investments but denied the reports of completely severing ties with US-based projects.
Reports of Binance Delisting US Projects Denied
Binance CEO Changpeng ‚CZ‘ Zhao has denied reports that the exchange is looking to delist all US-based tokens and stop dealing with US projects. The denial follows an earlier report claiming that Binance was planning to do so.
Pull Back on Some Deals But Not Severing Ties
CZ acknowledged that Binance had indeed pulled back from some investment deals and takeover bids in the United States for now, but said this did not mean it would be completely severing ties with US-based projects. He noted that blockchain has no borders and suggested it was better to focus on education, compliance, and product & service rather than pay attention to FUD or fake news.
Recent FUD About Binance
Binance has endured a lot of FUD over the past several months, particularly after the collapse of FTX. Recently, there were also reports about the U.S Securities and Exchange Commission (SEC) suing Paxos – the issuer of BUSD stablecoin – calling it an „unregistered security.“ This was followed by an order from New York Department of Financial Services (NYDFS) against Paxos for allowing unlicensed activities in New York State.
Compliance Remains Paramount
Despite denying the rumors about delisting US projects, CZ emphasized that compliance remained paramount for any business operating at a global level. He stated that they are constantly working with regulators and other stakeholders around the world in order to ensure full regulatory compliance everywhere they operate.
In conclusion, while CZ addressed some concerns regarding their relationship with crypto firms based in the United States, he left no room for doubt when it comes to ensuring compliance across all markets where they operate worldwide.