Largest Bitcoin Withdrawal from Binance
Binance has changed its withdrawal limits to .06 BTC for most of its users. The previous limit was 2 BTC.— Amy Castor (@ahcastor) July 27, 2021
You can check out any time you like but you can never leave. Such a lovely place. https://t.co/XthUdOsT6c
The same day Binance CEO Changpeng “CZ'' Zhao specualted that he might be willing to step down from his role as Binance seeks to become a regulated financial institution. Later, he denied these reports.
When they mis-quote you... another thread on CEOs.— CZ 🔶 Binance (@cz_binance) July 27, 2021
There are no immediate plans to replace me as CEO.
I/we would very much like to hire a strong compliance background CEO to show our commitment to compliance as this is the top priority of the organization.
Binance wants to ‘be a financial institution’ as pressure mounts and regulatory warnings from the United States, the United Kingdom, Germany, Japan, Italy and Lithuania to Hong Kong are only growing.
It now takes over 2 WEEKS for new users to withdrawal a single #Bitcoin from Binance.— Mr. Whale (@CryptoWhale) July 27, 2021
And they say banks are bad…
Crypto exchange Binance faces US money laundering probe
Reuters reported, Cryptocurrency exchange Binance plans on doubling its compliance department this year willing to "humbly welcome more capable talents" as it faces a blizzard of global regulatory probes. According to Bloomberg, Binance was being investigated by the Commodity Futures Trading Commission to determine whether U.S. residents breached securities law by trading derivatives on the exchange.
Regulators to probe crypto exchange Binance’s foray into equities https://t.co/1fRhxKPznd— Financial Times (@FT) April 22, 2021
Large Bitcoin withdrawals were probably made in response to the recent KYC rules changes announced by Binance.
Massive exchange outflows across multiple exchanges.— Charles Edwards (@caprioleio) July 28, 2021
BTC reserves on exchanges now sitting near 2021 lows. pic.twitter.com/yqFOe8xDVK
Days ago, Binance had to stop selling digital versions of stocks like Tesla and Apple.
You can no longer purchase Tesla stock tokens from Binance, according to a fresh announcement from the crypto exchange. https://t.co/4UP4Y6oPUS— Cointelegraph (@Cointelegraph) July 16, 2021
Binance, which operates in more than 180 countries and claims it has an average daily trading volume of US$2 billion. Leading crypto exchange Binance has been attracting more than 300,000 user registrations a day.
*BINANCE'S ZHAO: `NOT TOO WORRIED' ABOUT REPORT ON PROBE— zerohedge (@zerohedge) March 12, 2021
The world’s largest crypto exchange Binance has no headquarters. Binance was initially based in China, but later had to move its headquarters out of China due to Beijing's increasing regulation crackdown on cryptocurrency markets. The founder and CEO of Binance is Changpeng Zhao, commonly known as "CZ", Chinese business entrepreneur from Jiangsu, Eastern China.