Home > NEWS > Crypto exchange Binance pulls back some potential investments in the U.S., as regulatory pressure mounts

Crypto exchange Binance pulls back some potential investments in the U.S., as regulatory pressure mounts

Changpeng Zhao, chief executive at the world’s largest crypto exchange Binance, said on Twitter that the company “pulled back on some potential investments, or bids on bankrupt companies in the U.S.” Zhao’s tweet came after Bloomberg reported that Binance

Changpeng Zhao, chief executive at the world’s largest crypto exchange Binance, said on Twitter that the company “pulled back on some potential investments, or bids on bankrupt companies in the U.S.” Zhao’s tweet came after Bloomberg reported that Binance was considering ending its relationship with its U.S. partners and considering delisting tokens from any U.S.-based projects. A Binance spokesperson wrote to MarketWatch that “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.” Stablecoin issuer Paxos said earlier this week that it would stop minting new BUSD, a dollar-pegged cryptocurrency managed by Paxos and branded by Binance, following an order by the New York State Department of Financial Services requiring that minting cease.

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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