![]() ![]() The memo and rebuttals on Twitter came on the back of a record number of net daily Bitcoin and Ether token outflows from Binance on Tuesday. The SEC accused Binance founder Changpeng. Securities and Exchange Commission took aim at the most powerful man in crypto. Binance was one of the exchanges hit by large outflows on Tuesday, which have since started to show signs of easing. LONDON, June 5 (Reuters) - On Monday, the U.S. ![]() He added that FTX’s recent collapse has brought with it “a lot of extra scrutiny and tough questions” on his firm, referring to reports this week on customer withdrawals.įTX’s shock collapse has rocked investor sentiment and prompted some traders to take control of their tokens, causing outflows at other exchanges. “While we expect the next several months to be bumpy, we will get past this challenging period – and we’ll be stronger for having been through it,” he wrote in the memo seen by Bloomberg. Click here.In a memo sent to staff, CZ, as the founder of the world’s largest crypto exchange is known, said the industry for digital assets is going through “a historic moment” and that Binance is in a strong financial position and “will survive any crypto winter.” “Because we’re still in a really nascent period of building this whole finance system out.”įor the latest and interesting financial news, keep reading Indiatimes Worth. And you need to be prepared to hold it for quite some time,” Smith added. ’s CEO has said there’s more crypto destruction to come.ĬEO Peter Smith has said, “More pain is coming, more risk will be exposed, but ultimately, it’s a good thing for the decentralized economy.”Īs per CNBC reports, he says “For the crypto investor, the lesson from the past few weeks should be back to the crypto equivalent of the traditional market investing concept of dollar-cost averaging - slowly building a position in an asset over time so all your money isn’t exposed to any single bout of volatility”. Terra Luna was trading around $0.0001468 as of Thursday, as per a BusinessInsider report.Īlso Read: Despite Losing $5 Billion Net Worth, 'Crypto Robinhood' Says "Don't Worry, Market Won't Crash To Zero" His net worth as per Bloomberg Billionaire Index is $15.3 billion, and he has lost $80.6 billion this year.īinance CEO Zhao has also said "To lead by example on protecting users, Binance will let this go and ask the Terra project team to compensate the retail users first, Binance last, if ever," he tweeted. The largest cryptocurrency exchange by market volume has acquired popular data site CoinMarketCap (CMC) for an undisclosed price, the companies announced Thursday. ![]() But its recent crash that almost eroded its entire value, saw its value shrink to about $2,200 this week.ĭespite his comments, Binance CEO Zhao definitely isn't broke or poor. Its Luna tokens were "never moved or sold" as of Monday, according to Zhao.īinance's Luna holdings were worth $1.6 billion in early April 2022 when the token hit its peak price. ![]() Binance had received these tokens in exchange for its $3 million investment in 2018 into the Terra network that crypto Luna is based on. CZ □ Binance May 17, 2022īillionaire Zhao has said that Binance, which is the world's largest crypto exchange, held 15 million luna tokens. This comes after his crypto exchange's investments in Terra Luna crashed from $1.6 billion just a month ago to about $2,200 this week, as per a report in BusinessInsider. Nearly two months after saying he’s ‘ really not that rich’, crypto exchange Binance's billionaire CEO Changpeng Zhao joked a couple of days back tweeting he was "poor again". ![]()
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