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Crypto Exchange CEO Disputes Report He Took $250M Loan, Says He Actually Lent Money

  • Changpeng Zhao disputed a report claiming he took a $250M loan from BAM Management. He says he actually loaned $250M to BAM.

  • The disputed report came from court documents related to a Binance vs SEC lawsuit.

  • Zhao posted on X saying the report got the "direction wrong" and there's lots of wrong information.

  • The SEC claims it's struggling to get info from Binance amid the legal battle. A judge recently denied the SEC's motion to inspect Binance.

  • The original text covers Zhao's rebuttal, background on the Binance/SEC lawsuit, and recent court developments.

cointelegraph.com
Relevant topic timeline:
Binance CEO Changpeng Zhao Pushed to Shutter U.S. Exchange
- Binance founder and CEO Changpeng Zhao attempted to shut down the crypto exchange's U.S. offshoot earlier this year. - The decision to liquidate the company was put to a vote by the Binance.US board of directors, but it did not receive unanimous support. - Binance.US CEO Brian Shroder opposed the decision, expressing concerns about the potential negative impact on customers. - The attempted shutdown highlights the lengths Zhao was willing to go to protect the larger global exchange amid increasing regulatory scrutiny. - Binance.US had received a $4.5 billion valuation from investors last year.
Binance CEO Changpeng Zhao Pushed to Shutter U.S. Exchange
- Binance founder and CEO Changpeng Zhao attempted to shut down the crypto exchange's U.S. offshoot earlier this year. - The decision to liquidate the company was put to a vote by the Binance.US board of directors, but it did not receive unanimous support. - Binance.US CEO Brian Shroder opposed the decision, expressing concerns about the potential negative impact on customers. - The attempted shutdown highlights the lengths Zhao was willing to go to protect the larger global exchange amid increasing regulatory scrutiny. - Binance.US had received a $4.5 billion valuation from investors last year.
CZ Responds to Allegations of Binance Dumping Bitcoin to Defend BNB
Binance CEO Changpeng Zhao dispelled rumors of internal chaos at Binance, explaining that the exchange is not selling its Bitcoin stash to protect the price of its native token, BNB, and that Binance did not fund BNB Chain's recent loan repayment.
Binance Refunds $1 Million After CYBER Withdrawal Issue Caused by Price Discrepancy
Binance is refunding users $1 million and implementing measures to prevent future incidents after users were unable to withdraw their CYBER Earn assets due to a cross-chain bridging issue.
Binance CEO Downplays Management Shakeup at Binance.US Amid Regulatory Scrutiny
Binance CEO Changpeng Zhao denies speculation surrounding the departure of Binance.US CEO Brian Shroder, stating that he is taking a break following a successful tenure at the company amid lawsuits from the SEC and CFTC, and assures that Binance has no liquidity issues.
Binance Fights Back Against SEC Lawsuit, Accuses Regulator of Overreach
Binance and its CEO, Changpeng Zhao, have filed a motion to dismiss the lawsuit brought against them by the SEC, arguing that the agency exceeded its authority and failed to provide clear guidelines for the cryptocurrency sector.