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Binance and its CEO are under surveillance, according to the “Wall Street Journal”

 

Binance and its CEO are under surveillance, according to the “Wall Street Journal”

Binance, the leading digital currency trading platform, faces legal and operational challenges that may determine its future course.


According to information obtained by the Wall Street Journal from undisclosed sources, Changpeng Zhao, known as “CZ,” may be subject to criminal charges by the American authorities after a period of investigation.


Despite the obstacles Binance has faced recently, such as the departure of some senior staff and extensive layoffs, there are those who remain optimistic about the sector’s ability to recover, such as Matt Hogan of Bitwise, who sees the field as strong and resilient.


Despite these challenges, Binance co-founder Yi He confirms that the company will overcome these difficulties.


Confidence within the company is wavering, especially with Binance's trading volume falling to half of global trading from 70% at the beginning of the year.

Previous reports indicated that US authorities are considering accusing Binance of illegal practices, which threaten market stability and investor confidence.


It is worth noting that CZ and his Binance platform are under the microscope of several American bodies, due to multiple accusations that include manipulating operations and operating an exchange without proper legal registration.

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