Richard

Billion

Elon Musk

<div class="insidebitcoins"> 
 <div class="telegrame_cta_content"> 
  <div class="wrap"> 
   <div class="telegrame_cta_content_inr"> 
    <p>Join Our <u>Telegram </u>channel to stay up to date on breaking news coverage</p> 
   </div> 
  </div> 
 </div> 
 <p class="p2"><span class="s1">Binance dismissed parallels between itself and bankrupt crypto exchange FTX and said all its asset are “backed one-to-one.”</span></p> 
 <p class="p2"><span class="s1">Despite facing lawsuits, heightened regulatory scrutiny and challenges in some regions, Binance remains financially stable and is not comparable to the now-bankrupt FTX head of regional markets Richard Teng told CoinTelegraph in an interview.</span></p> 
 <p><span class="s1">&nbsp;“There were different rumours and FUD after FTX,” he said. “People tried to associate us, which is totally untrue. Our assets are backed one-to-one.”</span></p> 
 <p>The remarks come just days after Binance CEO Changpeng Zhao lashed out at negative news and rumours about the world’s biggest cryptocurrency exchange, dismissing them as “FUD” and providing an assurance that the company has no liquidity issues.</p> 
 <p>The comments also follow an exodus of top executives from the firm that gathered gathered pace last week with four departures, bringing the total to 10 since July. Lawsuits brought against the firm, its exits from some markets and product closures also are behind the ‘FUD,’ Zhao said.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Saw some debates in the community. When you do the right thing, and there is FUD, you don't have to do anything. The community defends you.</p> 
  <p>Let me summarize. There have been a lot of negative news/rumors, bank runs, lawsuits, closing of fiat channels, product wind downs,…</p> 
  <p>— CZ 🔶 Binance (@cz_binance) September 7, 2023</p> 
 </blockquote> 
 <p></p> 
 <h2 class="p3" id="span-class-s1-binance-embraces-scrutiny-span"><span class="s1">Binance Embraces Scrutiny</span></h2> 
 <p class="p2"><span class="s1">Teng attributed the increased scrutiny around Binance’s operations to its rapid growth, telling CoinTelegraph that “all this scrutiny will come from being the largest — scrutiny from regulators, scrutiny from the media — and we welcome the scrutiny.”</span></p> 
 <p>Teng said there was no decision yet on whether it would exit the Russia market, as has been reported, and that it adheres to international norms and standards in regards to sanctioned entities and individuals.</p> 
 <blockquote> 
  <p>“On our plans for Russia, we have stated very clearly in the last couple of weeks that all options are on the table,” he said in the interview. “We continue to explore what we need to do for that particular franchise going forward.”</p> 
 </blockquote> 
 <h2 class="p3" id="span-class-s1-teng-optimistic-about-mica-regulations-span"><span class="s1">Teng Optimistic About MiCA Regulations</span></h2> 
 <p class="p2"><span class="s1">Teng welcomed the evolving regulatory frameworks in various regions, particularly highlighting the <span class="s3">European Union’s Markets in Crypto-Assets (MiCA)</span> regulation. He said that standardized rules could simplify compliance for global platforms like Binance and expressed hope for harmonized standards, the story said.&nbsp;</span></p> 
 <p class="p2"><span class="s1">He said MiCA is a positive step towards creating consistent regulatory guidelines for the cryptocurrency industry globally and added that it will ultimately provide clarity and coherence for exchanges and participants.&nbsp;</span></p> 
 <p>&nbsp;</p> 
 <h3 class="p2" id="span-class-s1-b-related-articles-b-span"><span class="s1"><b>Related Articles</b></span></h3> 
 <ul class="ul1"> 
  <li class="li5"><span class="s4"><span class="s5">How to Buy Bitcoin</span></span><span class="s6"><br> </span></li> 
  <li class="li5"><span class="s4"><span class="s5">Binance Denies WSJ Report That It Does $90 Billion a Month in Illegal Trades in China</span></span><span class="s6"><br> </span></li> 
  <li class="li5"><span class="s4"><span class="s5">Monero (XMR) Price Prediction: XMR’s Stealthy Move: Sneak Peek into 5% Rise?</span></span><span class="s6"><br> </span></li> 
 </ul> 
 <div class="inContentProviderSingle inContentColor--insidebitcoins fc-row"> 
  <div class="inContentProviderSingle--wrapper"> 
   <div class="container"> 
    <div class="row mb-lg-3"> 
     <div class="col-12 col-md-8"> 
      <p class="inContentProviderSingle--title">Wall Street Memes - Next Big Crypto</p> 
     </div> 
     <div class="col-12 col-md-4"> 
      <div class="inContentProviderSingle--rating"> 
       <div class="rating--holder"> 
        <p class="rating--text">Rating</p> 
        <div class="rating--star-container"> 
         <div class="rating--star" style="width: 100%;"></div> 
        </div> 
       </div> 
      </div> 
     </div> 
    </div> 
    <div class="row">  
     <div class="col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none"> 
      <img class="inContentProviderSingle--img mb-3" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20125%2060'%3E%3C/svg%3E" alt="Wall Street Memes" width="125" height="60" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg"> 
      <noscript> 
       <img class="inContentProviderSingle--img mb-3" src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg" alt="Wall Street Memes" width="125" height="60"> 
      </noscript> 
     </div> 
     <div class="col-12 col-md-8"> 
      <ul class="inContentProviderSingle--list"> 
       <li>Early Access Presale Live Now</li> 
       <li>Established Community of Stocks &amp; Crypto Traders</li> 
       <li>Featured on BeInCrypto, Bitcoinist, Yahoo Finance</li> 
       <li>Rated Best Crypto to Buy Now In Meme Coin Sector</li> 
       <li>Team Behind OpenSea NFT Collection - Wall St Bulls</li> 
       <li>Tweets Replied to by Elon Musk</li> 
      </ul> 
     </div>  
     <div class="col-12 col-md-4 d-none d-sm-none d-md-block d-lg-block"> 
      <img class="inContentProviderSingle--img float-right" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20125%2060'%3E%3C/svg%3E" alt="Wall Street Memes" width="125" height="60" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg"> 
      <noscript> 
       <img class="inContentProviderSingle--img float-right" src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg" alt="Wall Street Memes" width="125" height="60"> 
      </noscript> 
     </div> 
    </div> 
    <div class="row"> 
     <div class="col-12 text-center"> 
      <div class="inContentProviderSingle--button">
        Learn More 
      </div> 
      <div class="inContentProviderSingle--disclaimerText"> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
 <div class="telegrame_cta_content"> 
  <div class="wrap"> 
   <div class="telegrame_cta_content_inr"> 
    <p>Join Our <u>Telegram </u>channel to stay up to date on breaking news coverage</p> 
   </div> 
  </div> 
 </div> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-dismisses-parallels-with-ftx-says-its-assets-are-backed-one-to-one-tbt62323.html">https://thebittimes.com/binance-dismisses-parallels-with-ftx-says-its-assets-are-backed-one-to-one-tbt62323.html</a></p>

Binance Dismisses Parallels With FTX, Says Its Assets Are ”Backed One-To-One”

Table of Contents

TheBitTimes

Other articles published on Sep 11, 2023

What is $FLR crypto and How to use it to Gain Profit?(2023 UPDATE)

Morgan Stanley Analyst Predicts 60% Rally for Elon Musk's Tesla

How To Get An Instant USDC Loan?

Australia Moves to Third Position on List of XRP Holders: Crypto Lawyer

Is It Too Late to Buy Stellar? XLM Price Shoots Up 14% and AI Crypto Signals Platform Launchpad S...

‘Rage Quit’ Rally of NFT Holders to Split NounsDAO’s Treasury

Join our free newsletter for daily crypto updates!