đš WHY BINANCE PREFER NOT TO LISTED ON STOCKMARKET UNLIKE COINBASE đš
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The Untold Story of Binance's Decision to Forego an IPO
Binance, the world's largest cryptocurrency exchange, has no plans to go public anytime soon. In a recent interview, CEO Richard Teng revealed that the company is focused on achieving long-term stability and endurance, rather than seeking short-term gains through an initial public offering (IPO).
This marks a significant shift in strategy for Binance, which was previously led by founder Changpeng "CZ" Zhao. CZ's departure was part of a multi-billion-dollar settlement with the US government, which forced him to step down from the company he built.
Under Richard's leadership, Binance is transforming from a founder-led operation to one governed by a board of directors. The company is prioritizing compliance, increasing its spending in this area by 36% last year compared to 2022.
Despite speculation that Binance might join the IPO wave, Richard quickly shut down those rumors. "We're in a very strong financial position, so there's no need for us to consider fundraising or an IPO at this time," he stated.
Binance has been profitable since its early days, according to Richard. The company has managed its finances prudently and is focused on securing licenses and making settlements in key markets around the world.
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