CZ Reassures Binance Retails Customers in Personal Email

Binance boss Changpeng 'CZ' Zhao has sent a 'personal' email to the multitude of retail investors who use his centralised exchange, assuring them that everything is above board on the world's largest crypto platform.

The Binance boss stated that it conducts "a daily reconciliation of all crypto-assets that are held by Binance on behalf of its customers".

Zhao added: "We only spend our own funds. We do not use client funds to deal on our own account."

Zhao emphasised that "Binance holds all of its clients’ crypto-assets in segregated accounts which are identified separately from any accounts used to hold crypto-assets belonging to Binance and that it also uses Binance’s own wallet infrastructure to safeguard user assets and Binance’s own assets."

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