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Changpeng Zhao will not participate in the development of Binance US

Binance CEO

Changpeng Zhao, one of the most beloved cryptocurrency influencers in the world recently held an AMA session where investors could ask him some questions about the upcoming Binance US subsidiary that the company will be opening in the United States.

A few days ago, Binance announced that it will be withdrawing all of its operations from the United States and banning any and all US-based customers that try to process transactions on their platforms.

Although the announcement seemed extremely controversial, the company immediately added that they will be relying on a subsidiary to conduct the operations for them.

In the recent AMA, Changpeng Zhao was asked by one of the participants whether or not he will be participating in the development of Binance US.

CZ replied that he will be holding no legal title in the new subsidiary and that it will be completely taken care of by the contractor company called BAM Trading Services.

Zhao also mentioned that Binance is working very closely with BAM Trading Services in order to meet the three-month deadline for the company’s launch.

In further questions, CZ confirmed the revocation of SAFU funds from US-based customers as well as speculations on whether or not the BNB will be accessible to Binance US customers.

Should BNB not be available, it would give the US-based customers a very unfair disadvantage, regarding the fact that using BNB while trading on Binance gives the investors multiple discounts on commissions.

Regardless of the outcome, CZ does not make any promises, the only thing he did confirm was that the platform will be coming to the US in a minimum three months time.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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