Binance Chief Changpeng Zhao (CZ) warned colleagues that the infamous crypto winter is far from over and the months ahead will be tough. Bloomberg reports this.
The message to staff reads as follows:
“Awaiting turbulence in the next few months, we will overcome this difficult period and become stronger by going through it.”
According to CZ, the industry is currently at a “historic moment”. At the same time, Binance’s financial strength is sufficient to “weather any crypto winter”.
CZ added that the recent FTX collapse has prompted “numerous additional checks and challenging questions” for the firm he heads.
Earlier, the net outflow of stablecoins from Binance over the 24 hours reached $3 billion.
Earlier, WSJ-sourced experts stated troubling signals in Mazars’ report on Binance’s bitcoin reserves.
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