Binance's CEO has shared where his company is at on the deal with FTX. 'We did not master plan this or anything related to it.' $FTT crypto cryptocurrency CZ
Binance CEO Changpeng Zhao has shared where his company is at on the deal with FTX. “We did not master plan this or anything related to it,” he told the Binance team, reminding them not to trade the FTX token as the due diligence for the acquisition is still ongoing. He further stressed that “FTX going down is not good” for anyone in the crypto industry, warning that regulators will “scrutinize exchanges even more.
He noted that immediately after finishing the call with Bankman-Fried, he asked all members of the Binance team to “stop selling as an organization,” adding: “Yes, we have a bag. But that’s ok. More importantly, we need to hold ourselves to a higher standard than even in banks.” The Binance chief also reminded his team not to comment on the FTX deal both publicly or internally. “If you are not directly involved, don’t ask. We have got a good team handling it. Things will play out,” his note reads.“Do not view it as a ‘win for us.’ User confidence is severely shaken. Regulators will scrutinize exchanges even more. Licenses around the globe will be harder to get. And people now think we are the biggest and will attack us more,” the Binance executive cautioned.
“But that’s OK, we are used to being open and leaning into headwinds. In fact, we embrace scrutiny. We must significantly increase our transparency, proof-of-reserves, insurance funds, etc.,” he stressed.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance CEO Says He’s Not Trying to Fight FTXThe crypto billionaire says that the industry has to focus on building
Read more »
Breaking: Binance CEO announces intent to acquire FTX to ‘help cover the liquidity crunch’Sam Bankman-Fried said that despite the occasional conflict between the two companies, Binance “has shown time and again that they are committed to a more decentralized global economy.”
Read more »
Binance Signs Letter of Intent to Acquire FTX.com | CoinMarketCapBinance CEO CZ tweeted that FTX asked for Binance’s help during a “significant liquidity crunch.”
Read more »
Binance's CZ Unveils 5 Points about FTX Situation, Here's What He SaidCZ reveals FTX deal insights in letter to Binance team alameda solana sol binance bnb ftx ftt $eth $sol $bnb $ftt
Read more »
In staff letter, Binance CEO embraces scrutiny from regulators amid potential FTX dealHow will Binance look after all of this? CEO Changpeng 'CZ' Zhao informs staff that the crypto exchange is ready for regulatory scrutiny as it attempts to acquire FTX.
Read more »
Crypto investors rattled as Binance reportedly leans against completing its acquisition of rival FTXBinance, the world’s largest crypto exchange, is reportedly unlikely to follow through with its proposed acquisition of the non-U.S. assets of rival FTX,...
Read more »