Binance chief Changpeng Zhao said the cryptocurrency exchange does not plan to go public. He spoke about this in an interview with CoinDesk.
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“We have no financial problems. We are operating normally and demonstrating very healthy and natural growth, so an IPO is not in our plans,” Zhao said.
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The publication notes that rumors about a possible Binance foray into the public markets emerged after the announcement of joining the exchange as a regulatory affairs adviser to former U.S. Senator Max Baucus.
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The head of the trading platform praised Coinbase and called the Bitcoin exchange’s $90 billion valuation too low. Zhao also responded to rivals’ accusations of conducting operations outside the reach of authorities.
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“I truly believe we have the most reliable Know Your Customer (KYC), anti-money-laundering (AML) and geofencing technologies,” the Binance CEO said.
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According to Zhao, the growth pace of his crypto exchange outstrips the 2017 highs of Bitcoin’s bull run. He added that new users continue to register on the platform, despite the recent pullback in the price of digital gold.
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As Bloomberg reported on March 12, the CFTC began an investigation into Binance over possible allowing US residents to trade crypto derivatives without the proper license.
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Earlier the crypto exchange halted direct withdrawals to ruble cards for technical reasons. Recovery times are unknown; rubles can be withdrawn via Payeer and Advcash.
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