Binance CEO Changpeng Zhao (CZ) is talking out on latest allegations within the media, saying that the alternate is being focused with inaccurate and generally unethical reporting.
In a brand new firm weblog publish, CZ responds to a Reuters story revealed in the present day 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 blissful 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 workplaces.
“We’re cautious when disclosing workplace places, carrying Binance branding, or representing ourselves as Binance staff for safety functions. I need to hold our staff protected. Nevertheless, regulators in every jurisdiction the place we function have our native handle and speak to particulars on file and now we have introduced main workplaces in Paris and Dubai.
We’ve 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 practically insignificant even when true as a result of huge quantities of quantity that the alternate does.
“There’s a large fable about crypto being a software for criminals. Reuters has reported that Binance had been used as a conduit for the laundering of not less than $2.35 billion in felony funds however failed to offer any particulars of how that quantity is calculated and word the very fact this represents lower than 0.1% of whole funds which have flowed via Binance since 2019.
Regardless of Reuters’ quantity being grossly overstated, it will nonetheless point out that Binance is without doubt one of the simplest monetary establishments in holding illicit funds off its platform. We’ve zero tolerance for felony exercise.”
In June, Reuters revealed an article speculating that Binance had didn’t do its half in combating crypto-related crime and fraud after the U.S. Securities and Trade Fee (SEC) introduced it will be investigating the agency for potential insider buying and selling and different allegations.
Binance denied these claims, and in addition revealed 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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