Despite his reservations about meme coins, CZ stated that Binance’s stance on these coins is neutral, and the exchange has nothing against any particular currency. federal prosecutors asked Binance to provide internal records about its anti-money laundering checks, along with communications involving its chief executive Changpeng Zhao, according to a. Binance CEO CZ Confirms Neutral Stance on Meme Coins. Following the announcement, Changpeng Zhao, CEO of Binance, stated that memecoins are high risk. Binance, the world’s largest crypto exchange, has recently announced the listing of the memecoins Pepecoin and Floki Inu in the innovative zone. “Only semi-safe path for Binance here is likely a settlement which CFTC would still push for the billions in make whole, disgorgement and civil penalty payments but may allow CZ et al to avoid admission of guilt,” the analyst added. He stated that Binance has a separate team responsible for evaluating coins and making listing decisions. Pepe witnessed a massive surge after the Binance listing. “If they do show up and engage, then the discovery process will be opening all their books internationally to US regulators from all entities including those personally owned by CZ to churn up other issues.” “If CZ, Lim and Binance fail to engage with US courts, and fail to defend themselves in a trial, it's likely the CFTC would win flat out, and some criminal contempt/obstruction charges would be added which would extend issues to other countries,” Cochran tweeted. No sooner had Binance CEO Changpeng CZ Zhao shared the news on Twitter Tuesday, fans and critics alike expressed. Read also: Binance expands its reserves by adding 11 new tokens to PoR In the wake of the explosive revelation that Binance has made plans to acquire rival cryptocurrency exchange FTX, Crypto Twitter immediately erupted with an abundance of freshly-generated memes. And given that the regulator is seeking payment for all fees back to 2017 and making affected users whole, the fine amount would likely deliver a fatal blow to CZ’s crypto empire. Even so, Binances approach to shitcoins became a key differentiator during the companys early days: Whereas Coinbase, the big US exchange, offered just three tokens, Binance sold more than 100. According to Adam Cochran, a crypto researcher and partner at venture firm Cinneamhain Ventures, CFTC, unlike the SEC, rarely agrees to fine settlements, but when it does, it pushes for admission of guilt and other restrictive clauses, such as banning the parties from dealing in commodities.
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