Changpeng Zhao said Binance is pivoting from being a technological innovator to being a financial services company.
Zhao said Binance is seeking a new CEO with a strong regulatory background, and he's open to stepping down as the crypto exchange doesn't need him in particular to be boss.
Periods of downturn in the crypto market have inevitably led to high-profile stories of retail investors burned by forced liquidations.
The two crypto exchange founders have come up during a massive investment surge into the cryptocurrency space.
CEO Zhao compared crypto adoption to the invention of the car industry to explain that laws and guidelines for road traffic took a while to develop.
At 7:23 am ET, Musk published a tweet to his 57 million followers saying "My Shiba Inu will be named Floki."
Changpeng Zhao said the crypto community must learn to properly respond to the tweets, and suggested Musk should be more careful.
Binance isn't accused of any wrongdoing by the federal agencies, Bloomberg reported. The US is widely trying to root out illicit activity in the crypto market.
BaFin warned investors the exchange may have violated securities rules by failing to issue a prospectus detailing its offering of the assets.
The CEO of the world's largest crypto exchange said he is seeing increased institutional adoption of crypto and a growing user base on the platform.
The world’s largest cryptocurrency exchange, Binance, expects to bring in as much as $US1 billion in profit in the course of 2018, Bloomberg reports. The exchange has netted $US300 million in profits since the start of 2018 alone. Bitcoin, ethereum, and ripple all plummeted in value earlier this year – […]