Unless the world's leading cryptocurrency exchange improves its corporate communication, it's essentially undermining itself with FUD.
In March, the CFTC filed a lawsuit against Binance, along with its founder Changpeng Zhao and compliance officer Samuel Lim, in a U.S. court located in Illinois. The lawsuit accused the exchange of running a derivatives trading operation within the U.S.
The Financial Conduct Authority (FCA) of the United Kingdom has revoked the authorization of Binance's local unit to offer regulated services in the country.
The exchange urges users to promptly withdraw their USD funds due to the Securities and Exchange Commission employing 'extremely aggressive and intimidating tactics' towards the company.
Starting from the summer of 2022, Zhao has been trying to sell off some of his shares in an effort to improve the company's image in the eyes of U.S. regulators.
After Sun transferred $56 million in TUSD to Binance, CEO Changpeng Zhao tweeted about it 'Binance Launchpool are meant as air drops for our retail users, not just for a few whales,'
Crypto Twitter personality @cobie sent out an encrypted message that reportedly read: Interpol Red Notice for CZ, referring to Binance's CEO. Although it was just a rumor, the message caused market jitters after someone managed to decipher it.
Changpeng Zhao, CEO of Binance, has emphasized the value of market liquidity in response to requests for segregated order books from a number of nations.
According to Changpeng Zhao, the crypto exchange is hiring compliance personnel in China.