In response to the company’s recent encounters with a Reuters reporter, Binance CEO Changpeng Zhao (CZ) accused the news organization of conducting a targeted smear campaign.
A “breakdown in trust” was stated by CZ as a result of unfavorable reports written by Angus Berwick and Tom Wilson, obtained from unidentified sources.
Reuters has recently released a number of reports that are critical about the exchange, including one in January that detailed the company’s lip service to international regulators and disregard for compliance norms.
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The latest report accuses Zhao and Binance of plotting to “dodge regulators in the U.S. and UK.”
Following additional conversations with the Reuters reporter, CZ said that the writer’s questions focused on Binance’s commitment to compliance and leadership style and included an intent to publish a story about his children.
The CEO of Binance called the action “unprincipled and intolerable,” claiming that any such disclosure would put his young children in danger.
His well-justified fear is that the reporters would be knowingly putting his toddlers in harm’s way by publishing information about them.
CZ claimed he made the unprecedented decision to communicate a few of the subjects directly to the community because the reporter refused to rule out writing a piece about the kids.
To satisfy the demands of the business, Binance hired 4,000 new staff during the course of 2022. It was observed that compliance, investigations, and security accounted for a sizable fraction of new hires.
500 people work in compliance globally, including personnel with regulatory agency, investigation, and law enforcement experience.
The exchange added that it is still dedicated to creating a compliance framework that users can rely on.
Binance’s response post also covered a number of other subjects, such as dismissing charges that CZ has an intrusive and secretive leadership style and that for the protection of the staff Binance’s office locations are kept confidential.
Binance employees can also choose to get their pay in fiat, cryptocurrency, or a combination of both.
CZ stated that he wants his family to be safe as well as an honest and open connection with the media. He cannot commit to the former without guarantees for the latter.
The blog post concluded with “I can live with the occasional negative news story – we’re focused on building and improving Binance and the blockchain ecosystem. We’re in this for the long haul. It’s never about tomorrow, this year, or even next year. We are building a company that we believe will last a hundred years or more.”
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