Changpeng Zhao, the co-founder and CEO of Binance, has addressed recent rumors and assured that the company’s financial position and employee retention remain strong. He attributed the negative environment to fear, uncertainty, and doubt (FUD) caused by negative news, rumors, bank runs, lawsuits, and employee turnovers. CZ clarified that Binance has no liquidity issues, with all withdrawals and deposits being properly handled and customer funds being 100% reserved. While there have been some executive departures, CZ stated that employee turnovers are common in the rapidly changing crypto industry. He also highlighted Binance’s successes, including the launch of new fiat channels and products, new hires, and victories in court cases involving Ripple and Grayscale Investment against the SEC.
