• Binance CEO Changpeng ‚CZ‘ Zhao denied reports that his exchange was planning to delist US-based tokens.
• Reports suggested that Binance had pulled back on some investment deals and takeover of bankrupt companies in the US.
• This follows a lawsuit from the US Securities and Exchange Commission (SEC) claiming that Binance USD (BUSD) stablecoin is an „unregistered security.“
Reports of Binance Delisting US-Based Tokens False
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.“ This comes amid reports that cite familiar sources as saying Binance was planning to delist all US-based tokens, including USD Coin (USDC), a stablecoin issued by US-based financial services firm Circle.
Binance Pulls Back Investment Deals and Takeover in US
A Bloomberg report published on Friday also claimed sources said 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, according to the report. While acknowledging that Binance had indeed pulled back from some investment deals and takeover of bankrupt companies, Zhao noted this was just ‚for now.‘ He also linked to a previous tweet in which he says it is better to focus on education, compliance and product & service, and „ignore FUD, fake news, attacks,“ among other things.
FUD Over FTX Collapse
Binance has endured a lot of FUD over the past several months, particularly after the collapse of FTX. Today’s reports on Binance come just days after the US Securities and Exchange Commission (SEC) said it was suing Paxos, the US-based issuer of the BUSD stablecoin. The regulator has labelled BUSD as an „unregistered security.“ That on top of the New York Department of Financial Services ordering Bitfinex/Tether earlier last month for alleged fraudulent activities related to Tether’s USDT stablecoin have kept regulators busy lately when it comes to cryptocurrency exchanges operating out of America.
Focus On Education And Compliance
In light of recent regulatory activity towards cryptocurrency exchanges operating out of America , CZ Zhao suggested focusing on education , compliance , product & service , while ignoring FUD , fake news , attacks etc .
Despite denials from CZ Zhao himself , there are still questions surrounding whether or not Binance will continue its involvement with projects based out of America . It remains unclear what effect any potential pullback could have for investors but for now at least it appears business will continue as usual .