TL;DR
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In addition to the CEO’s departure, Binance.US has also cut over 100 positions (that’s a third of its staff in the US!).
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All of this has begun to spur the rumor mill once again, bringing the trustworthiness of Binance (the main company, not the US arm) and its CEO, Changpeng ‘CZ’ Zhao, into question.
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In response, CZ has said everything is going just fine, Binance has no liquidity issues (i.e. it still has everyones money), and is still launching new products.
Full Story
Man, has anyone else noticed the revolving door of CEOs at Binance.US (the US arm of Binance)?
First it was the departure of Catherine Coley, then Brian Brooks, and now Brian Shroder.
But wait, there’s more!
In addition to Shroder’s departure, Binance.US has also cut over 100 positions (that’s a third of its staff in the US!).
All of this has begun to spur the rumor mill once again, bringing the trustworthiness of Binance (the main company, not the US arm) and its CEO, Changpeng ‘CZ’ Zhao, into question.
In response, CZ has said everything is going just fine, Binance has no liquidity issues (i.e. it still has everyones money), and is still launching new products.
Who should you trust?
No idea ¯\_(ツ)_/¯
That said, if you want to err on the side of caution, it might be worth taking your crypto off Binance and chucking it in a self managed wallet.
(We’ve done exactly that).
