Changpeng ‘CZ’ Zhao insisted that Binance wasn’t facing any liquidity issues and was winning court cases, establishing new fiat payment rails, hiring new staff, and entering new markets.
The future is looking bleaker for Binance as the DOJ's ongoing probe into the exchange's alleged illicit dealings slowly took a toll on the firm, with more of its execs heading for the exit.
Binance undergoes "re-evaluation" of its workforce, cutting down about one-fifth of its total manpower who are either underperforming or might not be "the right cultural fit."
In its latest report, Reuters claims that Binance violated U.S. financial rules regarding the strict church-state separation of customer funds from company revenue in 2020 and 2021.
