Binance's CEO Changpeng “CZ” Zhao has told employees in an internal memo that he expects the “next several months to be bumpy.”
In the message, seen by Bloomberg, the CEO said that despite “a lot of extra scrutiny and tough questions” that have emerged after the collapse of rival exchange FTX he expects his firm will “get past this challenging period” and that it will “be stronger for having been through it.”
Zhao pointed to the recent intense examination that many crypto firms are facing, calling this “a historic moment,” but said that Binance is “built to last.”
Following FTX’s collapse and its CEO’s arrest on Monday, the market has turned its attention to the largest crypto exchange by trading volume.
(By Liam J. Kelly)
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