Binance CEO Changpeng Zhao said the cryptocurrency exchange has no plans to enter the stock market. He spoke about this in an interview with CoinDesk .
“We have no financial problems. We are normal and are showing very healthy and natural growth, so IPO is not part of our plans, ”Zhao said.
The publication writes that rumors about the possible entry of Binance into the stock market emerged after the announcement of joining the exchange as a regulatory adviser to former US Senator Max Bockus.
The CEO of the trading platform praised Coinbase and called the Bitcoin exchange’s $ 90 billion valuation too low. Zhao also responded to accusations by competitors of operating out of sight of the authorities.
“I really believe we have the most reliable customer identification (KYC), anti-money laundering (AML) and geofencing technologies,” said the CEO of Binance.
According to Zhao, the growth rate of his cryptocurrency exchange is higher than that of 2017 during the Bitcoin bull rally. He added that new users continue to sign up to the platform despite the recent pullback in the price of digital gold .
Recall, on March 12, Bloomberg reported that the Expedited Trading Commission has begun an investigation into Binance for possible admission for US residents to trade crypto derivatives without an appropriate license.
Earlier, the crypto exchange suspended direct withdrawals to ruble cards for technical reasons. The recovery time is unknown, you can withdraw rubles through the Payeer and Advcash systems.