According to sources, the relationship between CZ and Binance.US and the current regulatory environment will become obstacles to the development of Binance.US. Currently, Binance.US has proposed three solutions. The first solution is to continue to implement growth measures as planned, but this requires CZ to resolve his regulatory issues with the SEC and sell all of his Binance.US shares or transfer them to a confidentiality trust.
Changpeng Zhao (CZ), the CEO of Binance, recently participated in an hour-long Twitter Spaces session where he answered various user questions. Some of the topics discussed included Binance's Dubai license, Binance Launchpad, and Coinbase's layer-2 mainnet called Base. CZ emphasized that Binance welcomes competition and is open to collaborating with new products and blockchains in the crypto space. He also provided insights into Binance's Dubai license, explained the purpose of Binance Launchpad as a platform for fundraising in crypto, addressed inquiries about purchasing Binance merchandise, and discussed team management strategies for staying on top of trends. Regarding Coinbase's Base network launch, CZ stated that it is not viewed as a threat but rather as a positive development that brings more choice to users. Overall, CZ highlighted the importance of embracing competition and working together within the industry.
Binance, the world's largest cryptocurrency exchange, and its CEO Changpeng "CZ" Zhao are facing increased regulatory scrutiny in the euro area following lawsuits by the US SEC and CFTC, according to the Wall Street Journal. Germany's financial regulator, BaFin, has recommended that Binance withdraw its license application due to concerns about CZ and the exchange's complex structure. Binance has also withdrawn license applications in several other EU countries and faces scrutiny from regulators in France, Belgium, and the UK, as well as losing its European banking partner PaySafe. Despite this, a spokesperson for Binance has stated that the exchange will continue to pursue necessary regulatory approvals to conduct business in Germany.
According to Bloomberg: Lawyers for Binance and CZ filed a motion to dismiss with a Chicago court on Thursday, stating, “In this case, the CFTC seeks to regulate foreign individuals and companies that reside and operate outside the United States. This went beyond the limits of its statutory authority and trampled on deep-seated principles of comity with foreign sovereign states.” The U.S. Commodity Futures Trading Commission (CFTC) sued the company and CZ in March, accusing them of knowingly taking steps to circumvent U.S. laws, including knowingly allowing Americans to use the platform to buy and sell cryptocurrency derivatives, even though Binance never registered.
July 2 (Cointime) -Binance CZ : This does not affect Binance users. We do not support deposits from this network. Our security team is assisting them in its investigations though.
June 20 (Cointime) -Binance CEO CZ : Not personally involved and not a digital resident of Palau as claimed by the project,It's a FUD, stop using my name on advertising.
Binance's total assets have decreased by more than $8 billion since the SEC filed a lawsuit against the exchange on June 5th. DeFillama data shows that Binance's total assets dropped to $55.95 billion from $64.195 billion.
Binance CEO Changpeng "CZ" Zhao has criticized the various narratives circulating on Twitter about the reasons for the recent sell-off in altcoins, warning against trusting "insiders" who claim to know the true reasons for the market downturn.
Binance CEO CZ Has Been Order To Respond Answer the Summons of a U.S. District Court Along With the Other Entities Named in the Case
Binance CEO CZ has been order to respond answer the summons of a U.S. District Court along with the other entities named in the case. He does not have to appear in person but respond within the time frame below.
Binance CEO CZ widely known as "CZ," took to Twitter on Wednesday to deny rumors of a run-in with a U.S. inspectorate in Asia that, according to the viral post, ended with him pulling out an AK-47 and being "wasted". CZ responded to apparently false information on social media in a tweet, saying, "This is the second time I've been imaginatively wasted on Asian news. The last time involved a basement full of #BNB." This bizarre story about the shootout seems is the latest in a string of toxic narratives circulated in Asia by CZ ，whose veracity he vehemently denies.