Binance CEO Denies Report of the Potential Delisting of US-Based Cryptocurrency

Joshua Ramos
Binance’s CZ is Approaching Middle East Investors for Crypto Recovery Fund
Source: Bloomberg

Responding to coverage of a recent Bloomberg report, Binance CEO Changpeng Zhao has denied the potential delisting of US-based cryptocurrency. The initial report stated that the exchange was considering ending its relationship with US businesses due to increasing regulatory pressure.

Zhao responded to a Tweet covering the developing story stating it to be “False.” Moreover, has taken to Twitter to discredit coverage of the like. Following an earlier post urging his followers to “Ignore FUD, fake news, attacks, etc.”

Binance CEO Discredits Reports

Bloomberg had reported that one of the most prominent names in the crypto industry had considered severing ties with US business partners. The consideration came following increased regulatory pressure surrounding the exchange, and its various business partners within the country.

Now, Binance CEO Changpeng Zhao has denied reports of the potential delisting of US-based cryptocurrency. Concisely, Zhao responded to Watcher.Guru coverage of the report, claiming it to be “False.” Conversely, Zhao has stated that the exchange “Pulled back on some potential investments, or bids, on bankrupt companies in the US for now.”

Binance Hosted 55% of Global Spot Trading in January Since FTX Collapse
Source: The New York Times

There is no denying the increased regulatory scrutiny facing the exchange, following events stemming from a recent SEC probe into stablecoin issuer, Paxos. Subsequently, BInance has found itself at the center of investigations from various regulators, including the SEC, and the Justice Department.

Bloomberg’s initial report stated the consideration Binance Holdings was putting on a potential retreat from business in the country. Moreover, that decision will coincide with the delisting of US-based stablecoins like Circle’s USD, sources said.