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“We haven’t always got everything exactly right”: Binance CEO speaks out
The founder and CEO of crypto exchange platform Binance holdings has defended the company’s flaws saying it is a result of its rapid growth.
Chief Executive “CZ” says “Binance has grown very quickly and we haven’t always got everything exactly right, but we are learning and improving every day”.
The exchange platform has been impacted by a series of scandals and flaws in recent weeks.
Most significantly, the UK affiliate of Binance was impacted by a crackdown from the nation’s Financial Conduct Authority, preventing banks like Barclays from issuing debit and credit card payments to the company.
Binance has also been forced to temporarily suspend bank deposits at one of Europe’s key payments networks and has been at the centre of probes by multiple US agencies.
The CEO admitted he knows the company is at the tipping point, and outlined steps the executives had taken to make operations smoother.
He says Binance is rapidly expanding its international compliance team and advisory board whilst also localising operations to better comply with local regulations.