Binance CEO Changpeng Zhao has responded to negative news and rumors surrounding the cryptocurrency exchange, dismissing them as “FUD” (fear, uncertainty, and doubt). He assured users that Binance has no liquidity issues. The comments were made in response to the recent departure of several top executives from the company, bringing the total to 10 since July. Zhao did not directly address the reasons for the departures but defended the exchange against community debates. He stated that withdrawals and deposits are properly handled and customer accounts are fully backed by a reserve fund. Zhao also highlighted the successful court cases, handling of bank runs, record deposits, new fiat channels, product launches, new hires, and market expansions that Binance has experienced. The exodus of executives is reportedly due in part to concerns about how Zhao has handled an investigation into Binance by the US Department of Justice.
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