• Binance CEO Changpeng ‚CZ‘ Zhao has denied reports that the exchange is looking to delist US-based tokens.
• Binance has been subject to a lot of FUD over the past few months, with negative coverage heightening following the collapse of crypto exchange FTX.
• The US Securities and Exchange Commission (SEC) recently said it was suing Paxos, the US-based issuer of the Binance USD (BUSD) stablecoin
CZ Denies Reports on Delisting US Tokens
Binance CEO Changpeng ‚CZ‘ Zhao has denied reports that his exchange is looking to sever ties with US-based projects. In a tweeted response to one of the reports, Zhao termed the report as „false.“ He went on to suggest that this wouldn’t be the case given „blockchain has no borders.“
Recent Negative Coverage
Binance has endured a lot of FUD over the past several months, particularly after the collapse of FTX. According to a Bloomberg report published on Friday, sources claimed Binance was looking to end relationships with its partners in the US, including banks. The crypto giant was also reassessing its venture investments in the country, the report added. However CZ noted that while acknowledging that Binance had indeed pulled back from some investment deals and takeover of bankrupt companies, this was just for now.
The SEC recently said it was suing Paxos, the US-based issuer of the Binance USD (BUSD) stablecoin. The regulator labelled BUSD as an „unregistered security.“ That on top pf New York Department of Financial Services ordering Bitfinex and Tether to cease operations in New York have made matters worse for Binance.
Focus on Education and Compliance
To counter all this negativity surrounding it, CZ suggested it would be better for exchanges such as Binace to focus on education, compliance and product & service rather than getting bogged down by FUDs and fake news attacks etc.
It remains unclear what actions will be taken by regulators towards exchanges such as Biance in future but at present CZ stands firm in denying any plans related delisting US tokens or ending relationships with US partners.