In an open letter to the entire Binance team, CZ warned that the coming months are going to be tough but stressed that the cryptocurrency exchange will overcome current challenges. Binance’s new challenge refers to the existing doubts that have submerged the health of the entity’s finances. Faced with these accusations not yet proven, the CEO of Binance cited how the crypto industry is going through a “historic moment” and how Binance is in a “very strong position in its financial positioning”, underlining:
CZ did not silence the reasons for receiving so much pressure, claiming the obvious, that FTX’s collapse has fueled widespread mistrust and will bring “a lot of additional scrutiny and tough questions” over the company. For this reason, the Binance president wanted to reassure his team by telling his employees “that the next few months will be difficult, we will get through this period and we will be stronger for having lived through it”, emphasizing its solid structure: “Rest assured that this organization will built to last.”
Binance CEO Investigated
Binance CEO is being investigated for money laundering. There is the added situation that it has been known that Binance executives are being investigated by the United States Department of Justice, since 2018. It is an investigation for money laundering, from which a conclusion has not yet been drawn.
The American Justice doubts. According to Reuters, the Department of Justice has delayed its conclusion on the criminal investigation into Binance. Half of the prosecutors believe there are compelling grounds to charge Changpeng Zhao and several Binance executives with possible money laundering offences, while other prosecutors are unclear.
A negative stance by prosecutors against Binance, beyond what the judges later find out, could seriously hit confidence in the crypto sector, where Binance played a very prominent role.
Source: Ambito
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