Binance CEO Changpeng Zhao (CZ) posted a response to the corporate’s latest dealings with a reporter from Reuters, complaining of a deliberate smear marketing campaign by the information company.
CZ talked about a “breakdown in belief” as a consequence of hostile experiences knowledgeable from nameless sources. In latest instances, Reuters has printed a number of damning tales concerning the change, together with an account of the corporate’s “lip service” to international regulators and neglect of compliance requirements in January.
On Oct. 10, following additional communications with a Reuters reporter, CZ mentioned the reporter’s inquiry requested about Binance’s dedication to compliance and his management model but additionally contained an intent to run a report about his kids.
The Binance boss mentioned any such report would endanger his toddlers, labeling the transfer “unprincipled and insupportable.”
“What’s distinctive this time is that they’ve signaled a brand new low and have crossed the road into indefensible territory. They’ve signaled an intent to report about my kids.“
On condition that the reporter refused to rule out a narrative on the youngsters, CZ mentioned he determined to not interact additional and take the weird step of speaking “a handful of subjects” on to the neighborhood.
Binance reaffirms dedication to compliance
Over 2022, Binance has taken on 4,000 new staff to fulfill the calls for of the enterprise. It was famous {that a} important proportion of recent hires have been in compliance, investigations, and safety.
The compliance headcount now totals 500 staff globally, together with workers with expertise from regulatory our bodies, investigations, and regulation enforcement.
Additional, the change mentioned it stays dedicated to growing a compliance framework that customers can belief.
Responding to earlier experiences that the corporate was used to launder $2.35 billion in legal funds, Binance mentioned Reuters didn’t present info on how the determine was calculated. What’s extra, if true, that sum would symbolize simply 0.1% of whole funds since 2019.
“Regardless of Reuters’ quantity being grossly overstated, it could nonetheless point out that Binance is among the best monetary establishments in holding illicit funds off its platform. We’ve got zero tolerance for legal exercise.”
Conserving his household protected
The put up additionally touched on a number of different subjects, together with:
- Management model – with a dismissal of claims that CZ is overbearing and secretive.
- Causes for holding workplace places secret – achieved for the protection of staff.
- Employee compensation – employees determine how their wage is paid, whether or not fiat, crypto, or a combination.
CZ mentioned he needs an open and clear relationship with the press and for his household to be protected. With out assurances for the latter, he can not decide to the previous.
He reiterated earlier feedback on constructing for the lengthy haul, signing off by saying Binance will “final 100 years or extra.”
