Skip to main content

Binance Pulls Back on Potential Investments in the US, Confirms CEO Zhao

Binance has pulled back on some potential investments in the United States, its CEO Changpeng Zhao said on Friday, following a Bloomberg report that the major crypto exchange was considering ending relationships with US business partners.

"We pulled back on some potential investments, or bids on bankrupt companies in the US for now. Seek permission first," Zhao wrote in a tweet, without elaborating.

The Bloomberg report, which cited an unnamed person familiar with the matter, said Binance is considering ending business relationships with banks and services firms in the United States, amid heightened regulatory scrutiny of the company.

Binance is also reassessing US venture capital investments and will consider de-listing tokens from any US-based projects, including the major stablecoin USD Coin, the report said.

Word that Binance may drop its US partners comes a day after Reuters reported that the global Binance exchange, which is not licensed to operate in the United States, had secretly moved more than $400 million (nearly Rs. 3,310 crore) from accounts held by its purportedly independent US partner. That money, according to company messages, was shifted to a trading firm managed by Binance CEO Zhao.

"Like every other blockchain company, we are conducting a careful cost-benefit analysis and will pivot our business as necessary to protect our global user base," a Binance spokesperson said. The company did not immediately respond to questions on which US investments Binance had pulled back from.

US regulators have stepped up scrutiny of crypto companies this year. The regulatory action comes after multiple meltdowns in the crypto sector last year that saw a string of major industry players in the United States and beyond collapse.

On Monday, New York's top financial regulator ordered the company behind Binance's stablecoin to stop issuing the token.

Earlier this month Binance said it had suspended all dollar bank transfers after a US banking partner, Signature Bank, dialled back exposure to crypto firms.

© Thomson Reuters 2023

 

The iQoo Neo 7 packs a lot of power at an affordable price. But did the company cut the right corners to keep the price low? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
 


from Gadgets 360 https://ift.tt/ziHF7OJ
Labels:

Comments

Post a Comment

Popular posts from this blog

Itel P55 With Dual Rear Cameras, 5,000mAh Battery Launched in India: Price, Specifications

Itel P55 5G was launched in India on Tuesday and it claims to be the cheapest 5G smartphone in the country. The phone is powered by an octa-core Dimensity chipset and supports wired fast charging. It carries an AI-powered dual rear camera unit and is offered in a single storage variant along with two colour options. Itel India also introduced the Itel S23+ alongside, and is a budget smartphone with a curved AMOLED display. The company is extending a two-year warranty on the handsets and is also offering free screen replacement within 100 days of purchase. Itel P55 5G price in India, availability Offered in Blue and Green colour options, the singular 8GB + 128GB variant of the Itel P55 5G is priced at Rs. 9,999. The phone will be available for purchase via Amazon India starting October 4. Itel P55 5G specifications, features Sporting a 6.6-inch HD+ (1600 x 700 pixels) display, the dual nano SIM-supported Itel P55 comes with a refresh rate of 90Hz. The phone is powered by an octa-co...
Post a Comment
Read more

The 53 Most Anticipated Movies of 2023

What are the biggest movies of 2023? From Hollywood, we are expecting nine DC and Marvel superhero movies. (After a long time, DC has more titles on the calendar than Marvel Studios). A new Ant-Man, Aquaman, Flash, Shazam, Captain Marvel, Spider-Verse, and Guardians of the Galaxy film is on the docket for 2023 — Jason Momoa, Brie Larson, Chris Pratt, and Paul Rudd jump into spandex again — along with the first Kraven and Blue Beetle movies. Speaking of firsts, Mario, Gran Turismo, and Dungeons & Dragons are looking to launch new franchises in 2023, with the help of Pratt, Chris Pine, and David Harbour. We even have a live-action Barbie movie, with Margot Robbie, on the way. Beyond that, we have a second Dune entry with Timothée Chalamet and Zendaya, a third entry in the Rocky spin-off Creed with Michael B. Jordan, the fourth John Wick film with Keanu Reeves, a fifth Indiana Jones movie with Harrison Ford, a seventh Transformers and Tom Cruise-led Mission: Impossible, and the tenth...
Post a Comment
Read more

Samsung Galaxy S24 Series Could Come With Exynos SoC in Europe, Galaxy S24 Ultra Storage Options Tipped

Samsung will reportedly launch the successor to the Galaxy S23 series early next year. While the smartphones are still months away from their debut, several rumours and leaks have revealed expected specifications and features of the purported Galaxy S24 series. The Galaxy S24 series will likely comprise a Galaxy S24, Galaxy S24+, and a Galaxy S24 Ultra. Now, details of the phones' processor and their storage options has been leaked online. The phones are tipped to get an Exynos processor in Europe. A new leak by tipster Ice Universe (@UniverseIce) revealed that the Galaxy S24 series will ship in Europe with the Exynos 2400 SoC with cores clocked at a speed of 3.16GHz, 2.9GHz, 2.6GHz, and 1.95GHz. Additionally, the tipster went on to reveal some more details about the purported smartphones. The Galaxy S24+ is said to come with a WQHD+ screen with 3120x1440 resolution whereas all three models will offer a peak brightness of 2,500 nits. The tipster has also teased the renders of...
Post a Comment
Read more