• Binance CEO Changpeng “CZ” Zhao denies report of cutting ties with US business partners due to increasing pressure from US regulators.
• CZ tweeted that Binance is reviewing projects in jurisdictions with “ongoing regulatory uncertainty” to ensure user safety.
• Bloomberg reported that Binance may delist tokens from US-based projects, such as Circle’s USD Coin (USDC).
Binance Denies Report of Cutting Ties with US Business Partners
The Binance CEO contradicted a Bloomberg source concerning the reduction of the company’s activities following increasing pressure from U.S. regulators. Changpeng “CZ” Zhao tweeted that the report was false and clarified that they are merely pulling back on investments or bids on bankrupt companies in the U.S for now, seeking permission first.
Increasing Pressure from Regulators
Recent weeks have seen an increase in scrutiny from U.S. regulators towards Binance Holdings, leading them to review projects in jurisdictions with “ongoing regulatory uncertainty”. This is to ensure that users are insulated from any undue harm caused by these reviews and regulations.
Bloomberg Reported Potential Delisting Of Tokens
Bloomberg reported on Feb 17th, citing an unnamed source, that Binance Holdings was looking at severing ties with intermediary firms such as banks and services firms and re-assessing venture capital investments in the U.S., as well as potentially delisting tokens from U.S.-based projects such as Circle’s USD Coin (USDC).
Binance Does Not Serve Customers In The United States
In light of this scrutiny, it is important to note that Binance Holdings does not serve customers directly in the United States; instead they are referred over to their independent branch – BinanceUS – for service within the country’s borders.
In conclusion, while there is increased pressure on Binance Holdings from U.S regulators due to their involvement abroad, it appears CZ has denied reports of major breakup with US business partners for now and only pulled back on some potential investments or bids within America until further notice is given regarding regulation and user safety issues abroad and at home alike