Binance CEO Dismisses Rumors Alleging He Has Been Shot 27 Times

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Changpeng Zhao, the CEO of Binance, has refuted rumors suggesting his demise. In a current assertion, Zhao shared a screenshot denying the report. He reassured the trade’s shoppers and the broader cryptocurrency neighborhood that he has not encountered incidents involving being shot 27 occasions or partaking with representatives from an American inspection company.

Changpeng Zhao Is Not Useless

In response to the pretend viral information doing rounds in Asia, it’s alleged that the Binance CEO was shot a number of occasions after he argued: “with an American inspection company and took out an AK 47”. After this, the police shot first, “losing the CEO.”

Notably, this isn’t the primary time there was pretend information claiming that the CEO of Binance has been killed. In early March 2023, there have been situations of misinformation circulating that falsely claimed the loss of life of Zhao, which was cited as the explanation for his absence on the Binance World convention held in Paris.

Nonetheless, Zhao promptly dismissed these rumors and clarified that he was “very a lot alive” and wasn’t positive “the place these rumors are coming from.”

For now, what triggered the pretend information is just not instantly clear. The supply of the information might have been mistaken or a malicious agent looking for to trigger worry within the Binance neighborhood, discredit the CEO, or manipulate token costs of the Binance ecosystem.

Even so, it comes when the trade finds itself in a regulatory onerous spot.

Binance Sued By The SEC

America Securities and Change Fee (SEC) on June 5 alleged that not solely was Binance concerned within the unlawful providing of crypto property they labeled as securities, however that the trade had been supposedly mendacity to American regulators all whereas they continued inflating buying and selling volumes.

Gurbir Grewal, director of the SEC’s enforcement division, stated:

We allege that Zhao and the Binance entities not solely knew the foundations of the highway but additionally consciously selected to evade them and put their prospects and buyers in danger. By partaking in a number of unregistered choices and failing to register whereas concurrently combining the capabilities of exchanges, brokers, sellers, and clearing companies, the Binance platforms underneath Zhao’s management imposed outsized dangers and conflicts of curiosity on buyers.

The regulator additionally alleges that BNB, the native foreign money of the BNB Chain, and BUSD, a stablecoin initially issued by Paxos that the New York Division of Monetary Companies (NYDFS) ordered them to cease minting, have been unregistered securities.

Within the aftermath of this lawsuit, BNB, Bitcoin, and Ethereum costs flash crashed, dragging the cryptocurrency market with it.