How 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.
Changpeng Zhao, the chief executive officer of crypto exchange Binance also known as “CZ,” warned users its intention to acquire FTX may invite scrutiny from global regulators — but the firm is ready.though the deal to acquire another major crypto exchange was still in the works, regulators would likely “scrutinize exchanges even more” and make it difficult to acquire operating licenses.
“People now think we are the biggest and will attack us more,” said the Binance CEO. “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. A lot more to come in this area.” In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago.
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