![]() Earlier this year, the CFTC charged Zhao with willful evasion of federal law and operating an illegal digital asset derivatives exchange. Tap the Chat (headset icon) on the top of the screen. Commodities and Futures Trading Commission (CFTC) may prevent the exchange from securing certain regulatory licenses to ensure smooth operation in the US crypto market. The quest for legitimacy in the United States is leading, the world’s largest cryptocurrency exchange, to pursue an initial public offering of its American unit. Tap the User Profile icon on the top left corner of the app homepage. There are more than 180+ cryptocurrencies that you can use in at least one of the products offered on Binance Earn. The top management of Binance US believes that Changpeng Zhao’s involvement in the lawsuit that was recently filed by the U.S. Given that Zhao holds a majority stake in the US exchange, reducing his share may put the exchange in a more favorable position in terms of its relationship with U.S. In light of the recent legal trouble involving Binance and Zhao, the executives at Binance US have discussed how limiting the exchange’s relationship with Zhao and the international entity may help take some of the regulatory heat off the American entity. The intensifying regulatory scrutiny of Zhao, Binance, and its American arm has prompted the exchange to expedite the divesting process. Zhao launched Binance US in 2019, just two years after he founded the more popular international exchange. Whether youre a rookie trying to understand mining or a veteran looking to develop a trading strategy, weve got you covered. People familiar with the matter revealed that Zhao has been trying to sell part of his stake since as early as last summer. Your one-stop guide to all things crypto. ![]() ![]() Binance US Hopes To Reduce Regulatory Heat By Reducing CZ’s StakeĪccording to a report by The Information, Binance US and Changpeng Zhao have been looking into ways to reduce the latter’s stake in the crypto exchange for quite some time now. The American crypto exchange is working with Zhao and exploring ways to reduce the crypto billionaire’s controlling stake in the exchange. People familiar with the matter revealed that CZ has been trying to sell part of his stake since last summer.īinance US, the United States-based subsidiary of the world’s largest crypto exchange, is reportedly seeking to cut the stake of its owner and founder Changpeng Zhao (CZ).We will continue evaluating and offering coins, tokens and trading pairs on Binance.US in accordance with our Digital Asset Risk Assessment Framework, community feedback, and market demand. Zhao launched the crypto exchange’s American arm in 2019 and owns a controlling stake in it. Binance.US strives to be a reliable and efficient marketplace providing access and trading across a healthy variety of digital assets.Binance US and its owner Changpeng Zhao have reportedly been looking for ways to reduce his stake in the exchange.
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