CZ says Binance’s size is big so it is easy to target negatively

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Binance CEO provided clarity over the recent negative reports against the Binance exchange by the mainstream media. 

Binance is a top-ranked crypto trade platform. The services of this crypto exchange are available across huge numbers of crypto-related platforms. The services of this platform are available on centralised as well as decentralised. 

On 29 May 2023, Binance CEO Changpeng Zhao (CZ) appeared in an interview with the Bankless podcast. In the interview, Zhao said that the business size of the Binance exchange is very big, so it is easy to target this crypto firm. 

According to CZ, mainstream media Forbes, the Financial Times, and Reuters, etc want to report negatively against crypto & it remains easy for them to target the Binance exchange. 

He also said that these media platforms targeted Binance because of his ethnicity. He confirmed that Binance was indeed founded as a Chinese firm but for several years the exchange is outside & has no connection in China. 

CZ also claimed that it is easy for mainstream media reports to grab more clicks with the help of the “Binance” word title in their reports. 

Furthermore, CZ said that Kraken’ & Coinbase like crypto exchanges are already working with the regulatory bodies in full collaboration and, in the same way Binance is also increasing its efforts to work with the global regulatory bodies to combat illegal crypto activities.

On the crypto banking debank situation, the Binance CEO said that traditional banks are not kuch profitable businesses & also there is a big risk but still the exchange will allocate some funding in this sector, to bring crypto-friendly environment among these banks.

Read also: Russia drops national crypto exchange plan

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