TL; DR
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In addition to the CEO departure, Binance.US has also cut more than 100 positions (that’s a third of its US workforce!).
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All this has started fueling the rumor mill This once again calls into question the reliability of Binance (the main company, not the US branch) and its CEO, Changpeng “CZ” Zhao.
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In response, CZ has said that everything is going fine, that Binance has no liquidity problems (i.e. it still has everyone’s money) and is still launching new products.
Full story
Man, has anyone else noticed the revolving door of CEOs at Binance.US (the US arm of Binance)?
First it was the departure of Catherine Coley, then Brian Brooks and now Brian Shroder.
But wait, there’s more!
In addition to Shroder’s departure, Binance.US has also cut more than 100 positions (that’s a third of its US workforce!).
All this has started fueling the rumor mill This once again calls into question the reliability of Binance (the main company, not the US branch) and its CEO, Changpeng “CZ” Zhao.
In response, CZ has said that everything is going fine, that Binance has no liquidity problems (i.e. it still has everyone’s money) and is still launching new products.
Who should you trust?
No idea ¯\_(ツ)_/¯
That said, if you want to be cautious, it may be worth taking your crypto from Binance and putting it into a self-managed wallet.
(We did exactly that).