Tech

Am Personalbréif ëmfaasst de Binance CEO d'Untersuchung vu Reguléierer am Potenzial FTX Deal

11/10/2022
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Changpeng “CZ” Zhao, the CEO of crypto exchange Binance, warned users its intention to acquire FTX may invite scrutiny from global regulators — but the firm is ready.

An engem Bréif un Binance Personal tweeted op November 9, CZ gesot obwuel den Deal ze ze kréien another major crypto exchange was still in the works, regulators would likely “scrutinize exchanges even more” and make it difficult to acquire operating licenses. He added that if the deal resulted in FTX going down, it would be a loss for the crypto industry and not a “win” for Binance.

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“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.”

CZ huet den 8. November ugekënnegt datt FTX approached Binance for help in response to a “significant liquidity crunch,” resulting in the exchange signing a non-binding letter of intent to purchase FTX. The Binance CEO said at the time that the company was “assessing the situation in real time” and had the ability “to pull out from the deal at any time.”

FTX’s native token, FTX Token (FTT), huet experienced significant price volatility following news of the potential deal, dropping from more than $19 on Nov. 8 to $4.71 at the time of publication. In his letter, CZ warned the Binance team not to buy and sell FTT, just as the exchange would keep its bag of tokens.

“We need to hold ourselves to a higher standard than even in banks,” said CZ. “As I have said many times over the years, ignore the prices. Let’s keep our heads down and focus on building products people use.”

Verbonnen: Binance CEO deelt 'zwee grouss Lektioune' nom FTX Liquiditéitscrunch

Trotz dem CZ säi Bereetschaft fir d'Untersuchung vun de Reguléierer z'ënnerhuelen, ass et net kloer ob d'Autoritéite wëlles handelen fir den Deal ze stoppen, well et méiglecherweis Binance eng iwwerwältegend Majoritéit vum weltwäite Krypto-Maart gëtt. An enger Erklärung zu Cointelegraph sot en US Commodity Futures Trading Commission Pressespriecher datt d'Reguléierungsorgan d'Situatioun iwwerwaacht.