“From a financial perspective, there is a big hole. From new users, we have very high overlaps. We cover all the regions they cover and they have much less users than us. From a technology or product perspective, I think we have a superior product. They don’t have anything we don’t have.”

According to CZ, the original intention was to “protect” the users. However, the reports of misappropriating user funds as well as probes from US regulatory agencies prompted Binance to call off the takeover. (By Chayanika Deka)