Binance CEO CZ Denies Reports of Delisting US-Based Tokens

• Binance CEO Changpeng ‚CZ‘ Zhao denied reports that his exchange is looking to sever ties with US-based projects.
• Reports suggested that Binance was planning to delist all US-based tokens, including USD Coin (USDC).
• CZ acknowledged that Binance had pulled back from some investment deals and takeover of bankrupt companies in the US.

Binance Denies Reports on Delisting US-Based Tokens

False Report

Binance CEO Changpeng ‚CZ‘ Zhao denied reports that his exchange is looking to sever ties with US-based projects. He tweeted that the reports were false, acknowledging the exchange had „pulled back“ on some deals. The earlier report suggested that Binance was planning to delist all US-based tokens, one of those being USD Coin (USDC) issued by a financial services firm Circle.

FUD Over Past Months

Binance has endured a lot of FUD over the past several months, particularly after the collapse of FTX. A Bloomberg report published on Friday cited sources as saying Binance was looking to end relationships with its partners in the US, including banks and reassessing its venture investments in the country.

Pulling Back From Deals

Zhao noted that Binance had indeed pulled back from some investment deals and takeover of bankrupt companies in the US „for now“. He suggested it is better to focus on education, compliance and product & service instead of paying attention to FUD, fake news and attacks.

Regulatory Actions

The news follows regulatory actions against Paxos which issued the BUSD stablecoin labelled as an unregistered security by SEC and an order by New York Department of Financial Services for Bitfinex/Tether investigation.

Conclusion

Overall, CZ’s comments regarding delisting seem highly unlikely given blockchain’s borderless nature. However, regulatory uncertainty continues to loom large over exchanges operating in or servicing customers based in the United States.