Binance CEO, Changpeng ‘CZ’ Zhao, addressed the recent wave of negative news and rumors surrounding the digital currency exchange on Twitter. He dismissed reports of bank runs, lawsuits, employee turnover, and other issues as “FUD” (Fear, Uncertainty, and Doubt). Regardless of the departure of plenty of top executives, CZ claimed that the exchange’s 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 Binance’s BUSD stablecoin and highlighted positive developments such as the launch of new products, court victories, and the handling of a bank run. Binance is as of now facing investigations from numerous regulators worldwide, including the SEC and the CFTC in the United States.
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