Binance CEO dismisses negativity, assures company has 'no liquidity issues'

Despite the so-called FUD, Changpeng Zhao said, in reality, the crypto industry has achieved a number of massive victories in recent weeks. News Join us on social networks

Binance co-founder and CEO Changpeng “CZ” Zhao has dispelled recent rumors against his company, ensuring that its balance sheet and employee retention remain strong, despite recent market uncertainty.

Binance boss blamed the creation of a FUD (fear, uncertainty, doubt) environment on negative news, rumors, bank runs, lawsuits, fiat chain shutdowns, product shutdowns and employee turnover. X (Twitter).

I've seen some debate in the community. When you do the right thing and there is FUD, you don't have to do anything. The community defends you.

Let me summarize. There has been a lot of negative news/rumors, bank runs, lawsuits, fiat chain closures, product discontinuations,…

He then took the opportunity to clarify Binance's current financial situation:

“Guess what we don’t have? “No liquidity problem,” CZ stressed. “All withdrawals (and deposits) are processed correctly. All customer funds are #SAFU and 100% reserved.

However, observers have noted that at least 10 Binance executives left the helm between July and September alone, including Patrick Hillmann, former chief strategy officer, Mayur Kamat, former head of product, Leon Foong, former head of Asia Pacific and Steven Christie, former senior vice president for compliance.

CZ explained in July, however, that employee turnover is a reality for every company, especially if...