Binance CEO Changpeng ‘CZ’ Zhao has stressed that Binance neither has liquidity issues nor an employee retention problem.
Binance co-founder and CEO Changpeng ‘CZ’ Zhao has hosed down recent rumors against his firm, assuring its balance sheet and employee retention remain robust, despite the recent market uncertainty.negative news, rumors, bank runs, lawsuits, the closing of fiat channels, product wind-downs and employee turnovers for creating an environment of FUD in a Sept. 7 post on X .
Saw some debates in the community. When you do the right thing, and there is FUD, you don't have to do anything. The community defends you. Let me summarize. There have been a lot of negative news/rumors, bank runs, lawsuits, closing of fiat channels, product wind downs,…He then used the opportunity to clarify Binance’s current financial position:
“Guess what we don't have? No liquidity issues,” CZ emphasized. “All withdrawals are properly handled. All customer funds are #SAFU, and 100% reserved.”between July and September alone, including Patrick Hillmann, former chief strategy officer, Mayur Kamat, former product lead, Leon Foong, former head of Asia-Pacific and Steven Christie, former senior vice president for compliance.
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