Richard Teng, the head of regional markets at Binance, rejects comparisons between the collapsed FTX and Binance.
The firm’s assets are backed one-to-one, he says, contrary to what was alleged.
Similarly, no one can accuse Binance of being similar to defunct FTX because their assets are invested one-half as much as those of FTX.
In addition, Teng asserts that the exchange follows industry standards set out in the new regulations called the Market in Crypto Assets ( MiCA) which regulate the trade of crypto assets around the world.
Russian exits and exitsSeveral Binance executives have departed the company following regulatory setbacks and the recent Russian squabble.
Binance has been under fire for its continued listing of two sanctioned Russian banks, but it has withdrawn the listings of these banks in the face of similar efforts by competitors, Bybit and OKX.
Although CZ has exited the company, some observers say the exit raises concerns
👋 Feeling the vibes?
Keep the good energy going by checking out my Amazon affiliate link for some cool finds! 🛍️
If not, consider contributing to my caffeine supply at Buy Me a Coffee ☕️.
Your clicks = cosmic support for more awesome content! 🚀🌈
Leave a Reply