TL;DR
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Late last week, Fortune reported that Binance “went into crisis when senior executives quit.” Citing Binance’s CEO, CZ’s handling of the DOJ investigation.
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According to CZ “Yes, there is turnover (in every company). But the reasons that the ‘news’ have made up are not correct at all.”
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Here’s how not to care about this: Keep most of your crypto holdings out centralized exchanges, such as Binance.
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This way, if the centralized exchange you use will not take your magic internet money.
Full story
Late last week, Fortune reported that Binance “went into crisis when senior executives quit.”
(Resulting in a whole bunch of he-said-she-said on Twitter).
Here’s the TL;DR of the Fortune article…
The following people left their positions at Binance due to how CEO Changpeng ‘CZ’ Zhao handled the US Justice Department’s investigation into the company:
Here’s the TL;DR of Binance’s public response…
According to CZ:
“Yes, there is turnover (in every company). But the reasons that the ‘news’ have come up with are not correct at all.”
That’s something that Pat Hillmann and Steve Christie support.
Pat’s reasoning was:
“It’s true I’m leaving @Binance, but I’m doing so on good terms.”
Adding: “My wife is going into labor with our second child (literally) every hour now, so the time is right to step aside.”
As regards Steve? He ah…he got real with all of us:
“…my departure is much less sensational than any article might suggest.”
“Right now I’m just tired. And my wife says I’m fat, and I need to lose some weight.”
(Damn it, Steve! Are you okay?)
Here’s how not to care about this:
Keep most of your crypto holdings out centralized exchanges, such as Binance.
Instead, place them in a secure, self-managed cold wallet (such as a Ledger or Trezor).
This way, if the centralized exchange you use will not take your magic internet money.
