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Binance CEO Zhao Warns Bumpy Road Ahead in Message to His Staff

  • Founder of Binance writes memo to staff after large outflows
  • Memo part of Zhao’s efforts to counter worries about Binance
Bloomberg business news

WATCH: Binance CEO warned his staff to expect tough months ahead amid customer withdrawals following FTX’s collapse. Joanna Ossinger reports.

Source: Bloomberg

Binance Holdings Ltd. Chief Executive Officer Changpeng Zhao warned his colleagues to expect tough months ahead and said the firm will overcome current challenges, as the crypto billionaire tries to assuage concerns about the company’s financial health.

In a memo sent to staff, CZ, as the founder of the world’s largest crypto exchange is known, said the industry for digital assets is going through “a historic moment” and that Binance is in a strong financial position and “will survive any crypto winter.”