Changpeng Zhao: Binance has no liquidity problems
Changpeng Zhao: Binance has no liquidity problems
Binance CEO Changpeng Zhao has denied recent rumors surrounding the company, assuring the public that the exchange has no issues with liquidity.
Despite a spate of negative news, massive bank withdrawals, lawsuits, and staff turnover, Changpeng Zhao assured Binance users that all deposits and withdrawals are processed on time and that client funds are completely safe.
On his X (Twitter) page, Changpeng Zhao shared the latest achievements of the exchange. The exchange head said that Binance has overcome banking problems and won court cases, as well as launched new products, hired employees, and entered new markets.
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In addition, the CEO said that the exchange has the lowest staff turnover among similar companies, which makes it a stable and reliable partner for cryptocurrency traders.
Binance has successfully overcome the challenges posed by the CYBER buyout and the increase in lending rates and has introduced additional risk management measures.
"Binance will distribute a total of 800,000 USDT to 887 impacted users who failed to redeem their CYBER Simple Earn Flexible Products positions, along with an additional 871 CYBER. Other users who held CYBER Simple Earn Flexible Products positions during the specified period will receive an equal share from a pool of 200,000 USDT worth of CYBER Locked Trial Fund vouchers, sponsored by the CyberConnect Foundation," the exchange said on its website.
Also read: JPMorgan considers using blockchain-based digital deposit token for cross-border payments and settlements.
