Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li><keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword> CEO <keyword id="11948906" type="UNKNOWN" weightage="60" keywordseo="chaopeng-zhang" source="Orion">Chaopeng Zhang</keyword> recently revealed purchasing his first home in Dubai.</li><li>He also confirmed the possible closing of a multi-million dollar funding round of Binance.US soon.</li><li>Zhang spoke at the Bloomberg New Economy Forum in Singapore on Friday.</li></ul>The CEO and founder of Binance, Chaopeng Zhang, recently revealed a big-ticket purchase and confirmed the possible closing of a multi-million dollar funding round soon.<keyword id="12160290" type="UNKNOWN" weightage="60" keywordseo="cz" source="Orion">CZ</keyword>, as he is more commonly known, said he bought his first home in Dubai to show support for the crypto-friendly city. "The government there is very progressive, and it's a very good business environment," he told Bloomberg Friday on the sidelines of the <a href="https://www.bloomberg.com/news/articles/2021-11-19/binance-chief-zhao-buys-his-first-home-in-pro-crypto-dubai">Bloomberg New Economy Forum</a> in Singapore. "I want to show that we are committed to the place, so I bought an apartment there" in October.The purchase comes despite his repeated vows to avoid any attachments to material possessions. On Friday, the 44-year-old billionaire reiterated plans to give away more than 90% of his wealth.Meanwhile, the location of CZ's home may offer some hints as to where Binance may eventually establish a physical headquarters as it seeks to appease global regulators. But he declined to comment on this further during the forum.Binance co-founder Yi He told Insider in <a href="https://markets.businessinsider.com/news/currencies/binance-founder-yi-he-regulation-crypto-growth-headquarter-search-meme-2021-11">November</a> that the world's top <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> exchange has a shortlist of five countries, with some in Europe, but did not give specifics as well. On Friday, CZ also confirmed that Binance.US, an affiliate of Binance, may raise a "couple hundred" million dollars in a funding round that is expected to close in the next few months. After this, the firm is considering going public."Now there is a playbook," he said during the Bloomberg forum. "Coinbase did it. It's very simple. Let's do everything Coinbase did — compliance-wise, etc — hopefully for cheaper."Coinbase, the largest crypto exchange in the US, had its stock market debut in <a href="https://markets.businessinsider.com/news/currencies/coinbase-ipo-watershed-moment-cryptocurrencies-cryptocom-bitcoin-2021-4">April 2021</a> in what was seen as a watershed moment for the crypto industry.CZ also clarified that Binance.US and Binance.com — two entities that have often been subject to some confusion — are completely separate."They are two very independent organizations," he told Bloomberg. "I am chairman of the board for Binance.US. That is probably the only linkage between the two organizations."

Binance's CEO is buying his 1st home in crypto-friendly Dubai and confirms its US affiliate will close a multi-million dollar funding round soon

<ul class="summary-list"><li><keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword> is "not capable" of being effectively supervised, according to UK's financial regulator. </li><li>The <keyword id="11948907" type="UNKNOWN" weightage="60" keywordseo="financial-conduct-authority" source="Orion">Financial Conduct Authority</keyword> added that the crypto exchange poses a significant risk to investors.</li><li>This comes after Binance failed to respond to queries by the regulator.</li></ul>Binance, the world's largest cryptocurrency exchange, is "not capable" of being effectively supervised, according to the UK's financial regulator. The Financial Conduct Authority in an 11-page <a href="https://www.fca.org.uk/publication/supervisory-notices/first-supervisory-notice-binance-markets-limited.pdf">notice</a> published Wednesday said Binance <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">Markets</keyword> Limited, a London-based affiliate of Binance, failed to supply further information about its business model and wider product offerings, among other requests."This is of particular concern in the context of the firm's membership of a global group which offers complex and high-risk financial products, which pose a significant risk to consumers," the notice said.In response to the <keyword id="11948908" type="UNKNOWN" weightage="60" keywordseo="fca" source="Orion">FCA</keyword>'s first inquiry into its business, Binance said: "We do not consider these questions to be appropriate, or in any way relevant, to BML's application."The cryptocurrency exchange added its website is operated outside of the UK and therefore does not fall under the country's regulations concerning money laundering, terrorist financing, and transfer of funds.But the fact that Binance's main exchange is not UK-based is a problem for the watchdog because people living in the country can still trade cryptocurrency products that otherwise <a href="https://markets.businessinsider.com/news/currencies/binance-uk-ban-mean-local-investors-regular-trading-cryptocurrencies-fca-2021-6">won't be allowed</a> via Binance's broader platform. "The FCA considers that the firm's responses to some questions amounted to a refusal to supply information, and that the firm has failed to respond adequately to the FCA's information requirements," the notice said.Binance, which was founded in 2017, does not have a formal headquarters. While it was founded in China and officially domiciled in the Cayman Islands, the firm is mostly present online, something authorities have taken issue with.The FCA in <a href="https://www.businessinsider.com/britain-bans-cryptocurrency-exchange-binance-from-operating-in-uk-2021-6">June</a> banned Binance's UK-based marketplace from conducting activity without written consent and has issued a warning to potential investors, telling them to be "wary" of promises of big returns.The watchdog also took issue with Binance's lack of approved senior officials and its stock tokens, which the exchange <a href="https://markets.businessinsider.com/news/currencies/binance-stock-tokens-stop-offering-regulatory-scrutiny-hong-kong-sec-2021-7">stopped offering</a> just three months after launching them. In recent months, Binance has been slapped with multiple warnings, and in some jurisdictions, has been banned from operating due to its failure to register with local regulators.The company has faced scrutiny from <a href="https://www.theblockcrypto.com/linked/109736/binance-blocks-ontario-canada-users?utm_source=feedly&amp;utm_medium=rss=rss=rss=rss" target="_blank" rel="noopener">Canada</a>, <a href="https://www.theblockcrypto.com/linked/109623/japan-fsa-another-warning-binance-unregistered-operations" target="_blank" rel="noopener">Japan</a>, <a href="https://www.reuters.com/technology/germanys-financial-watchdog-warns-crypto-exchange-binance-over-stock-tokens-2021-04-29/" target="_blank" rel="noopener">Germany</a>, <a href="https://markets.businessinsider.com/news/currencies/binance-thailand-sec-criminal-complaint-cryptocurrency-exchange-license-approve-2021-7?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Thailand</a>, Italy, and the <a href="https://www.cima.ky/binance-not-regulated-by-cima" target="_blank" rel="noopener">Cayman Islands</a>, among others.In the US, Binance is reportedly under <a href="https://markets.businessinsider.com/news/currencies/cryptocurrency-exchange-binance-us-investigation-doj-irs-bloomberg-report-2021-5?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">investigation</a> by the Department of Justice the the IRS. <keyword id="11948905" type="UNKNOWN" weightage="60" keywordseo="binance-ceo" source="Orion">Binance CEO</keyword> Changpeng Zhao in <a href="https://markets.businessinsider.com/news/currencies/binance-ceo-changpeng-zhao-cryptocurrency-trading-license-regulation-2021-7">July</a> said his firm will be "fully compliant" to protect its users.

Binance is 'not capable' of being effectively supervised and is a significant risk to consumers, says UK financial regulator

<ul class="summary-list"><li><keyword id="6359140" type="ORGANIZATION" weightage="60" keywordseo="binance">Binance</keyword> founder <keyword id="11196811" type="UNKNOWN" weightage="60" keywordseo="chaopeng-zhang">Chaopeng Zhang</keyword> said herd mentality is one of the reasons why <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword>'s price is volatile in an interview with Bloomberg.</li><li>But he said this volatility is nothing new to cryptocurrencies - and the same drivers are seen in the stock market as well.</li><li>The founder also said that companies such as MicroStrategy that buy to hold help push bitcoin's price higher permanently. </li></ul>Binance founder and CEO Changpeng Zhao points to herd mentality as one of the causes of bitcoin's price volatility."The herd followers are less committed," Zhao said in an interview with <a href="https://www.bloomberg.com/news/videos/2021-05-03/binance-ceo-on-bitcoin-crypto-volatility-going-public-video">Bloomberg TV Monday</a>. "Whenever there's some negative news, they run away. Whenever there's positive news, they try to rush in."The founder of the world's largest crypto exchange said that "die-hard fans who understand and really love the project" usually buy to hold. Zhao, who goes by CZ, added that it isn't only retail traders who cause the price of the world's largest cryptocurrency by market capitalization to fluctuate."There are also large institutions that do volatility trading," he said. "They seek volatility and they sometimes even want to generate the volatility. So it's not to say that just because there's more institutions trading, then there's less volatility."The CEO added that companies like Microstrategy that buy large amounts of bitcoin to hold reduce volatility and even "push the price up permanently."MicroStrategy, helmed by bitcoin evangelist Michael Saylor, <a href="https://markets.businessinsider.com/currencies/news/michael-saylor-microstrategy-buys-15-million-of-bitcoin-btc-2021-4-1030274270">bought bitcoin</a> on multiple occasions, and how holds more than $5.4 billion as of April 2021 according to a <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0001050446/000119312521105625/d113059d8k.htm">regulatory filing</a>. The company last August became the <a href="https://finance.yahoo.com/news/microstrategy-becomes-first-listed-company-113746283.html" target="_blank" rel="noopener">first publicly listed company</a> to buy the cryptocurrency as part of its capital allocation strategy. Binance, which was <a href="https://www.businessinsider.com/binance-ceo-interview-profile-how-he-built-largest-crypto-exchange-2021-5#:~:text=Binance%20CEO%20Changpeng%20Zhao%20breaks,in%20Bitcoin%20and%20Binance%20Coin">founded in July 2017</a>, counts more retail investors in its client base than institutional investors, the CEO said.<a href="https://markets.businessinsider.com/currencies/btc-usd?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Bitcoin</a> this year has gained 95%. It briefly <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-record-high-coinbase-direct-listing-btc-crypto-2021-4-1030302632">breached a record high of $64,000</a> ahead of cryptocurrency exchange Coinbase's direct listing, then plummeted to around 36% to $47,000 around 10 days after.Still, Zhao wasn't perturbed, adding the same movement can be found in the stock market. "It's nothing new in crypto," the CEO said. "Volatility is everywhere. Um, and actually Bitcoin is probably less volatile than a similar-sized asset like an Apple stock or even a Tesla stock."

Binance CEO explains how herd mentality causes bitcoin price volatility - but argues the same behavior can be seen in the stock market

<ul class="summary-list"><li>Chaopeng Zhang told NYT's DealBook that he hopes his stake in Forbes will push more media companies toward adopting <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>.</li><li>Zhao, the CEO of <keyword id="11896045" type="UNKNOWN" weightage="60" keywordseo="binance" source="Orion">Binance</keyword>, also suggested this move might possibly lead towards decentralizing the industry.</li></ul><keyword id="11948905" type="UNKNOWN" weightage="60" keywordseo="binance-ceo" source="Orion">Binance CEO</keyword> Chaopeng Zhang said he hopes his firm's stake in Forbes will spur media companies to adopt cryptocurrencies, which could also help decentralize the industry. When crypto companies integrate into the traditional economy, the digital asset industry will be harder to ignore, Zhang, more famously known as CZ, told the New York Times' DealBook newsletter on Friday."By investing in traditional businesses and helping them to integrate with crypto, it's an interesting play for us," he said. "It increases the perception of the integration of crypto into the traditional economy when crypto businesses are funding traditional businesses, what some readers call 'real' businesses."Binance, the world's largest crypto exchange, <a href="https://markets.businessinsider.com/news/currencies/binance-forbes-200-million-magazine-spac-public-crypto-cnbc-2022-2">announced</a> on Thursday a $200 million stake in Forbes Global Media ahead of the magazine's <a href="https://markets.businessinsider.com/news/stocks/forbes-spac-merger-public-630-million-magnum-opus-acquisition-media-2021-8?utm_medium=ingest&amp;utm_source=markets">blank-check merger</a> later this quarter.The deal will help the 104-year-old magazine carry out its plans to merge with publicly-traded <a href="https://www.businessinsider.com/what-is-a-spac?utm_medium=ingest&amp;utm_source=markets">SPAC</a> Magnum Opus. The stake makes Binance one of the top two biggest owners of Forbes.CZ said the investment in Forbes can help nudge the publication as well as other traditional media outlets and their readers toward crypto more quickly."Number one is, yes, we definitely hope that they will write more about crypto in all of the newspapers. The second stage, maybe consider accepting Bitcoins for subscriptions or at least accept a stablecoin. Next is maybe some NFTs and you could issue a token for incentives," he told DealBook."And if the business is ready to go a fully decentralized way, utilizing writers everywhere in the world and have the crowd judge them by the amount of fees that they can receive," he added.CZ however clarified that the intent of his exchange is not to run a news company. Instead, they were more focused on speeding up the integration of crypto.He also highlighted how he does not "really get very involved" in Binance's mergers and acquisitions but did note that his team brought up the possibility of investing in a media company "maybe two or three months ago." CZ founded Binance in 2017 and has been a prominent crypto figure across the world, including on social media. He has amassed over 5 million followers by tweeting regularly about digital assets. He appeared on the <a href="https://www.forbes.com/sites/pamelaambler/2018/02/07/changpeng-zhao-binance-exchange-crypto-cryptocurrency/?sh=5fc0524d1eee">cover</a> of Forbes magazine in 2018.In 2020, Binance <a href="https://www.coindesk.com/markets/2020/11/18/binance-sues-forbes-for-defamation-over-tai-chi-document-leak/" target="_blank" rel="noopener">sued</a> Forbes for defamation for reportedly revealing the exchange's efforts to evade regulators only to <a href="https://www.coindesk.com/markets/2021/02/08/binance-drops-defamation-lawsuit-against-forbes-over-tai-chi-document/" target="_blank" rel="noopener">quietly drop</a> the lawsuit after a few months.Now with its investment in Forbes, Binance will also get two directors out of nine total board seats: Patrick Hillmann, chief communications officer for Binance; and Bill Chin, head of Binance Labs, the venture capital arm and incubator of the exchange.

The CEO of Binance says he hopes the exchange's stake in Forbes will push media companies toward adopting crypto and possibly decentralize the industry

You Searched For "chaopeng zhang" and got 4 results

Binance's CEO is buying his 1st home in crypto-friendly Dubai and confirms its US affiliate will close a multi-million dollar funding round soon

Isabelle Lee

Binance is 'not capable' of being effectively supervised and is a significant risk to consumers, says UK financial regulator

Isabelle Lee

Binance CEO explains how herd mentality causes bitcoin price volatility - but argues the same behavior can be seen in the stock market

Isabelle Lee

The CEO of Binance says he hopes the exchange's stake in Forbes will push media companies toward adopting crypto and possibly decentralize the industry

Isabelle Lee

Popular Keywords

Buying Guides