Coindesk | Nelson Wang | Feb 17, 2023

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Binance Holdings, the world’s largest crypto exchange by trading volume, is considering severing its ties with U.S. business partners as various government agencies and regulators continue to investigate the company, according to a report from Bloomberg, citing a personal familiar with the issue.

• Severing Ties with the U.S.?  Binance founder and CEO Changpeng Zhao is looking to end relationships with U.S. banks and service firms, and is also re-evaluating its U.S. venture capital investments, according to Bloomberg’s source. Binance is also considering delisting tokens issued by U.S.-based projects, including Circle’s USDC stablecoin, Bloomberg wrote.
• CZ’s response:  Shortly after the report was published on Friday, Zhao denied the exchange was considering delisting tokens attached to U.S.-based projects on Twitter, adding blockchain “has no borders.  We pulled back on some potential investments, or bids on bankrupt companies in the U.S. for now. Seek permission first,” Zhao said in another tweet.

See:  Binance Temporarily Suspends U.S. Dollar Deposits and Withdrawals

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