In a series of tweets yesterday, Changpeng ‘CZ’ Zhao, CEO of Binance, clarified about misleading news that has been making rounds in the crypto community. This follows a report that initially claimed Zhao received a $250 million loan from BAM Management U.S. Holdings, a story Zhao quickly denounced as incorrect. This incident highlights the need for investors to do their own due diligence, especially in a fast-moving and complex ecosystem like cryptocurrency. The corrected story reveals that CZ Zhao made a $250 million loan to BAM Management U.S. Holdings, $183 million of which was then transferred to BAM Trading by Paxos. This move came after the SEC filed a massive lawsuit against Binance, with unsealed court documents revealing questions about these financial transactions.
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ETH
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USDT
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$0.999728
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XRP
$1.03
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FIGR_HELOC
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$1.03
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$74.67
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$0.999841
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BCH
$216.08
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USD1
$0.999907
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USDE
$0.999695
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GRAM
$1.36
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