CZ denies claims that Binance will delist US-based projects

Binance CEO Changpeng “CZ” Zhao, on Feb. 17, described reports that his firm was considering delisting U.S-based crypto projects as “false.”

Bloomberg reported Feb. 17 that Binance was reconsidering its relationships with its US business partners, citing a person familiar with the matter, because of the current issues with its partners in the country.

The report added that the CZ-led exchange could delist Circle’s USD Coin (USDC) stablecoin, and the firm was reassessing its venture-capital investments in the US.

Meanwhile, CZ said:

“We pulled back on some potential investments, or bids on bankrupt companies in the US for now. Seek permission first.”

In recent weeks, Binance’s banking partner Signature Bank and stablecoin issuer Paxos have been forced to end their relationship with the exchange over increased regulatory scrutiny.

While Binance, the parent company, is not authorized to operate in the US, the firm does its business in the country via an independent arm, Binance.US.

Journalist at CryptoSlate

Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.