The CEO of Binance, CZ, has denied a report printed by Bloomberg on Nov. 21 that he was in search of funding for an trade restoration fund. CZ took to Twitter to succinctly affirm that the report was “false.”
False
— CZ 🔶 Binance (@cz_binance) November 22, 2022
The Bloomberg article acknowledged that “Changpeng.
“CZ” Zhao and a number of other deputies met with buyers in Abu Dhabi final week in an effort to boost money for a crypto trade restoration fund, in accordance with folks conversant in the matter.”
Nevertheless, provided that CZ has now denied that he spoke with buyers concerning the brand new restoration fund, it seems that the report could have misrepresented the Binance CEO after he attended the latest Milken Institute Center East and Africa Summit on Nov. 17. CZ lives in Dubai which is simply an hour away from Abu Dhabi.
Based on Bloomberg, a Binance consultant acknowledged that CZ’s conferences targeted on “international regulatory issues.”
“CZ’s conferences in Abu Dhabi had been all targeted on common international regulatory issues — particularly how Center Jap regulators may lead the globe by exploring extra aggressive proof of custody necessities for crypto exchanges,”
CZ confirmed the existence of a worldwide crypto restoration fund on Nov. 14.
To cut back additional cascading damaging results of FTX, Binance is forming an trade restoration fund, to assist tasks who’re in any other case sturdy, however in a liquidity disaster. Extra particulars to come back quickly. Within the meantime, please contact Binance Labs when you assume you qualify. 1/2
— CZ 🔶 Binance (@cz_binance) November 14, 2022
CZ has famous that “most journalists at Bloomberg are good, however Binance has run into points with Bloomberg previously. It filed a lawsuit towards the group in July 2022. CZ claimed that Bloomberg
“will do a pleasant profile piece on you, invite you for photoshoots, and so on. Then switches the story final minute. Ignore all constructive feedback they bought from third events. Picked solely outdated negatives. And nonetheless places you on the quilt.”
