CZ Reveals Possibility of Future Initial Public Offering of Binance US

Changpeng Zhao (CZ), CEO of Binance, alluded to the possibility of an initial public offering (IPO) in the future of his company.

corporate executive spoke at the Global DeFi Virtual Summit organized by SCB 10X, the holding company of Siam Commercial Bank. ir 30-minute event, which took place on July 23, was titled “Binance & Future of CeDeFi VS DeFi.”

idea of ​​an IPO was one of many questions that the event’s cararator, Mukaya Panich, SCB 10X’s chief investment and risk officer, asked CZ.

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Compiled the official SBC 10X a wire from CZ’s conversation with Ms. Panich. While not complete statements, the tweets include the Binance founder’s views on the current cryptocurrency landscape. Both in general and in specific areas. In the latter case, CZ referred to China’s dominance in the cryptocurrency mining space and how that dominance has changed.

“China was hot on mining and trade,” one tweet mentioned it. “But now I’m going to move to North America. United States has strong trade regulations. re are not many exchange companies in the United States «

“You see huge growth potential in Asia and Southeast Asia,” he continued. “Africa is also a clean slate for development. Different strategies for different places «.

Panich then asked the CEO about Binance’s growth areas in particular.

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“Active trading is not for everyone,” CZ replied. “Games, DeFi, NFT. Lots of potential. I am sure that there are areas that we have not analyzed and that are on the verge of growth.

cararator suggested centralized decentralized financing (CeDeFi), to which CZ said, “CeDeFi is equivalent to offering a DeFi experience over a centralized experience. But we want to move them to DeFi.

SBC 10X thread ended with Panich’s Question on an IPO route for Binance.

“Binance US is investigating the IPO path,” revealed the CEO. “Most regulators are familiar with a certain scheme (have a headquarters, have a corporate structure). But we are creating these structures to facilitate the implementation of an initial public offering.

“However, there are no direct plans for the IPO at this time. Currently focused on growth ”. the thread is finished.

Binance’s Lowest Moments

Despite CZ’s optimism regarding the future of Binance, the exchange has faced opposition from all corners of the world in recent months. Hong Kong, Lithuania, UK, Japan, and Italy are just a few of the nations that will take on Binance in July. Starting with the warnings issued by the Japanese financial authorities to Binance about operating without a proper license.

Institutions in the UK have imposed their own actions against the exchange since early July. Barclays banned customers from transferring funds to Binance on July 6, and Santander followed a similar lawsuit shortly after. Reports indicate that it had already been decreed that Binance would not conduct any cryptocurrency business in the UK. refore, Binance itself has suspended withdrawals made in GBP for its UK-based users; suspension that went into effect on July 13.

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Since then, the Italian authorities have also made it clear that Binance was not authorized to offer cryptocurrency services in Italy.

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