Binance CEO, Changpeng โCZโ Zhao, addressed the recent wave of negative news and rumors surrounding the digitalย currency exchange on Twitter. He dismissed reports of bank runs, lawsuits, employee turnover, and other issues as โFUDโ (Fear, Uncertainty, and Doubt). Regardlessย of the departure of plentyย of top executives, CZ claimedย that the exchangeโs founders have remained committed and that Binance has one of the lowest turnover rates in the industry. He likewise assured users that Binance has no liquidity issues and that all customer funds are safe and properly managed. CZ mentioned the phasing out of Binanceโs BUSD stablecoin and highlighted positive developments such as the launch of new products, court victories, and the handling of a bank run. Binance is asย ofย now facing investigations from numerous regulators worldwide, including the SEC and the CFTC in the Unitedย States.
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