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Binance CEO dismisses negativity, assures firm's strong liquidity position

Binance CEO dismisses negativity, assures firm’s strong liquidity position

Binance CEO Changpeng Zhao has addressed recent rumors and assured the public that the company’s balance sheet and employee retention remain strong despite market uncertainty. He attributed the negative environment to fear, uncertainty, and doubt (FUD) caused by negative news, rumors, bank runs, lawsuits, closing of fiat channels, product wind-downs, and employee turnovers. CZ clarified that Binance has no liquidity issues and all withdrawals and deposits are properly handled, with customer funds being 100% reserved. While there have been executive turnovers, CZ stated that this is common in a rapidly changing industry like crypto. He also highlighted Binance’s success in launching new fiat channels and products, expanding into new markets, and recent victories in court for Ripple and Grayscale Investments against the SEC.

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