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Changpeng Zhao rejects accusations

After charges were filed against the crypto exchange Binance, Changpeng Zhao rejects accusations of market manipulation and evading federal laws.

By Mike Hesp
• 1 min read
Changpeng Zhao rejects accusations

After charges were filed against the crypto exchange Binance, Changpeng Zhao rejects accusations of market manipulation and evading federal laws.

In a statement, Binance chief executive Changpeng "CZ" Zhao rejects the accusations in connection with the lawsuit against his exchange.

"On first review, the complaint appears to be an incomplete listing of facts, and we disagree with the characterization of many of the matters alleged in the complaint," said the exchange's CEO.

According to Changpeng Zhao, his company "maintains one of the highest standards for KYC and AML." A charge from the Commodity Futures Trading Commission (CFTC) was that Binance failed to adequately vet individuals.

The exchange chief also refutes the accusations of market manipulation: "Binance.com never acts out of self-interest or 'manipulates' the market." Moreover, Binance says it is in contact with regulators and law enforcement authorities, CZ said.

The Commodity Futures Trading Commission accuses Binance, among other things, of "ignoring applicable federal laws".

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