#Binance usa clients tv

The company's commitment to its clients and its goal to secure 'more than seven years of financial runway' while it switches to a crypto-only exchange model were both further reaffirmed by the spokesperson.īinance, Binance.US, and the exchange's co-founder Changpeng ' CZ' Zhao are the targets of legal actions by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission. Chief Legal Officer Norman Reed has stepped in as the interim replacement for Shroder.Ī spokeswoman for Binance.US claimed in a statement that the company's recent moves were motivated by the SEC's aggressive attempts to cripple our industry, highlighting the negative effects on innovation and real-world jobs in the United States. Alongside Shroder's exit, approximately 100 positions, or a third of the company's workforce, have been eliminated. This move has raised questions in the industry about whether Shroder's exit could trigger a 'domino effect,' leading to further high-profile departures or changes. The company confirmed the departure of its president and CEO, Brian Shroder, who had joined the firm in September 2021. They also have the option to deposit and withdraw funds, as well as buy, sell, and trade, the American subsidiary of the global cryptocurrency exchange, has recently undergone significant staffing changes. Once they log into their accounts, users can view their balance, purchase history, and the devices they’ve used to log in previously. Both the desktop and mobile experiences are similar. Users on the platform can buy, sell, trade, convert and stake over 120 popular cryptocurrencies, including Bitcoin, Ethereum, Solana, and Cardano.īinance.US offers an online dashboard and mobile apps for users to manage their accounts. The exchange’s vice president of corporate communications, Rieka Handayani, said that an employee adjustment of around 58% is expected.Īccording to, the Binance.US cryptocurrency exchange was created by Binance and its US partner BAM Trading Services in order to serve residents of the United States. Yudhono Rawis, Tokocrypto’s interim CEO, said that given the uncertain macroeconomic conditions, the company will need to engage in downsizing. In December 2022, Binance also finalised the acquisition of Indonesian crypto trading company Tokocrypt, for which they have been a major shareholder from the very beginning.

#Binance usa clients tv

According to his statements in recent TV interviews, no amount of customer withdrawals can threaten the exchange, since all customer deposits are held one-to-one. However, Binance’s CEO maintains that his company is presently in a strong financial position. In order to move forward with the deal, Voyager Digital will seek approval from the Bankruptcy Court during a hearing scheduled for 5 January 2023.Ĭonsidering the current state of the crypto market and the billions of dollars worth of customer withdrawals at Binance, the move to acquire another company at this time might have taken some people by surprise. They also revealed their plans to return users their cryptocurrency on the fastest timeline possible. Representatives from Binance.US revealed that Voyager users will be able to access their crypto directly from Binance.US’s platform once the deal goes through. Voyager has 3.5 million customer accounts, and it will be up to Binance.US to keep them as well as their assets on the platform following the takeover. Instead, Binance.US will make a deposit of USD 10 million and will reimburse Voyager for certain expenses up to USD 15 million according to .Īccording to the same source, the total purchase price will amount to USD 20 million, but Binance.US will still have to take care of repayments for Voyager’s customers after the deal closes. However, since Voyager’s valuation is made up largely of its liabilities to its clients, Binance.US will not pay this sum in order to take over the company.

Binance.US has revealed its plans to acquire bankrupt crypto lender Voyager Digital, which is valued at about USD 1 billion.