CZ added that uses all the industry platforms like Chainalysis and Elliptic for transaction monitoring. These are the same tools used by law enforcement agencies. He stated that BINANCE is confident that its practices are compliant with industry requirements.
Popular economist Nouriel Roubini attacked Binance and CZ in a recent interview, calling him a ‘walking time bomb’ following the FTX collapse. CZ replied that Roubini seeks popularity by attacking others. Hence, what he says doesn’t carry much weight, CZ added.
CZ was also asked about Sam Bankman-Fried’s comment, who stated that he regrets entering a battle with the Binance CEO as it led to the collapse of the FTX exchange. The Binance CEO replied that;
“We were never in a battle with him. He may think he is in a battle with us, but we didn’t even notice. We did hear some concerns about him badmouthing us behind our backs in DC and other political lobbying circles. We just said we don’t want to be entangled; we just want to exit our equity portion, and we did that a year and a half ago.”
As part of the transaction, Binance received some FTT tokens, and CZ said his company wanted to sell their tokens following the CoinDesk report. He concluded that;
“We were never against them. We don’t focus on other smaller exchanges as focusing our energy there doesn’t give us the best return. If we take customers away from there, we will only grow by 1 or 0.1%. However, if we can grow the industry, we can grow our user base by 5x, 10x or even 100x. Hence, we are focused on growing the crypto market alongside other exchanges.”
Binance maintains its reputation as the leading crypto exchange and currently processes over $10 billion in daily trading volume.
