Fellow Binancians,
We are pleased to share that Binance has reached agreements with U.S. authorities resolving historical registration, compliance, and sanctions issues. We have been preparing for this moment and are confident that you will not see any impact on the user experience or functionality. In fact, through this process, our platform has become even safer and more secure.
For more information on the details of the resolutions, please see our blog post.
This announcement allows our company to turn the page on a challenging yet transformative chapter of learning and growth and to begin to share our vision for Binance’s exciting future and the future of the crypto industry.
The fundamentals of our business remain rock solid. Binance continues to operate the world's largest cryptocurrency exchange by volume. We take our responsibility as a custodian very seriously and maintain 1:1 backing for every user asset.This means that users can withdraw 100 percent of their assets from the platform at any time. Importantly, we have never faltered in upholding our core values. Our resolutions with the U.S. agencies:
do not allege or indicate that Binance misappropriated any user funds, and
do not allege or indicate that Binance engaged in any market manipulation.
We also want to share that Changpeng Zhao (CZ), founder and CEO of Binance, is stepping down from his role as CEO. As Binance’s majority shareholder, he will remain a resource available for consultation on historical areas of our business. Effective immediately, Richard Teng, Binance’s now former Global Head of Regional Markets, succeeds CZ as CEO.
We thank you for choosing, and continuing to choose, Binance and for being a part of this community. If you have questions, feedback, or need support, please submit an inquiry through our customer service portal and we will respond as quickly as possible.
You are the driving force behind all that we do.