Binance CEO Says Company Has No Financial Problems
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Despite reports of The Wall Street Journal claiming that Binance had to cut salaries for managers and reduce funding for corporate leisure such fitness classes, CEO Changpeng Zhao has asserted that rumors of financial struggles or even bankruptcy were unfounded.
Zhao has stated that Binance had adequate financial and administrative resources to maintain operations and reassured investors that all client funds were 100% reserved.
However, the company’s spot market dominance had dropped to 40.4%, as CCData found that the volume of digital currency transactions had been decreasing over the past few months.
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