Binance CEO Changpeng Zhao (CZ) is talking out on latest allegations within the media, saying that the alternate is being focused with inaccurate and typically unethical reporting.
In a brand new firm weblog publish, CZ responds to a Reuters story printed immediately that alleges the corporate has been dodging regulators within the US and UK.
Zhao says that Reuters probed Binance previous to the story, and whereas CZ is glad to reply questions, the crypto billionaire says that the reporters signaled an try to report on his household and private life.
The CEO additionally addresses claims from the media that the alternate is dodging regulators by not publicizing the precise addresses of all their places of work.
“We’re cautious when disclosing workplace places, sporting Binance branding, or representing ourselves as Binance staff for safety functions. I wish to preserve our staff protected. Nonetheless, regulators in every jurisdiction the place we function have our native deal with and speak to particulars on file and now we have introduced main places of work in Paris and Dubai.
We now have additionally arrange a particular a part of the Binance web site particularly for legislation enforcement.”
On claims that Binance has facilitated cash laundering, CZ says such allegations are false, and can be almost insignificant even when true because of the huge quantities of quantity that the alternate does.
“There’s a huge fable about crypto being a software for criminals. Reuters has reported that Binance had been used as a conduit for the laundering of a minimum of $2.35 billion in felony funds however failed to offer any particulars of how that quantity is calculated and word the actual fact this represents lower than 0.1% of complete funds which have flowed via Binance since 2019.
Regardless of Reuters’ quantity being grossly overstated, it could nonetheless point out that Binance is without doubt one of the handiest monetary establishments in conserving illicit funds off its platform. We now have zero tolerance for felony exercise.”
In June, Reuters printed an article speculating that Binance had did not do its half in combating crypto-related crime and fraud after the U.S. Securities and Alternate Fee (SEC) introduced it could be investigating the agency for potential insider buying and selling and different allegations.
Binance denied these claims, and in addition printed a full chain of emails between it and Reuters in an effort to provide the general public a chance to scrutinize Reuters’ framing of the correspondence.
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