According to Binance CEO Changpeng Zhao, reports of the exchange looking to sever ties with US-based projects are false.
After an earlier report claimed that Binance was preparing to remove all US-based tokens, including USD Coin (USDC) issued by United States-based financial services company Circle, the exchange’s CEO responded by denying the reports.
In response to one of the reports, Zhao took to Twitter to call it “false” and argued that the idea of delisting US-based tokens was unlikely due to the borderless nature of blockchain technology.
As per a Bloomberg report on Friday, insiders alleged that Binance is contemplating terminating its relationships with US-based partners, including banks, while simultaneously reviewing its venture investments in the country.
Although Zhao acknowledged that Binance has scaled back on certain investment deals and the acquisition of bankrupt firms, he emphasized that this decision was only temporary. He also referenced a previous tweet in which he emphasized the importance of prioritizing education, compliance, product, and service, while disregarding rumors, false information, and attacks. Notably, Binance has been the subject of significant FUD in recent months, which has intensified in the wake of the FTX crypto exchange’s collapse.
Today’s news regarding Binance arrives a few days after the SEC announced its lawsuit against Paxos, the US-based issuer of Binance USD (BUSD) stablecoin, labelling it as an “unregistered security.” Furthermore, the New York Department of Financial Services directed Paxos to cease minting the stablecoin, leading to the end of the company’s relationship with Binance.
