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Binance regional market leader: Binance and FTX are completely different, Binance is financially safe
11/09/2023 19:29
Odaily Planet Daily News Richard Teng, Binance’s regional market leader, said that despite recent regulatory scrutiny and regional challenges, Binance is financially safe and completely different from the bankrupt FTX.
Regarding “negative news/rumors, bank runs, lawsuits, fiat channel closures, product reductions, employee turnover,” Teng said: “There have been different rumors and FUD after FTX. People are trying to connect us, which is completely untrue. Real. Our assets are supported one-on-one."
Teng said that Binance has not yet made a decision on its franchise to serve the Russian market, while insisting that Binance will continue to comply with international norms and standards regarding sanctioned entities and individuals.
Additionally, Teng believes that the EU’s Market for Crypto-Assets (MiCA) regulation could benefit exchanges generally by setting standardized rules for the industry. (Cointelegraph)
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