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Binance in Talks with Sovereign Wealth Funds: FT

Exchange faces pressure from regulators and believes investments from sovereign funds would improve ‘perception and relationships’

A large chunk of Binance's emergency insurance fund – 44% – is made up of the crypto exchange's own BNB tokens, a report by CryptoPotato says.
Binance reportedly plans to implement a proof of reserves system verifying its total exchange assets. This file image shows Binance chief Changpeng Zhao, who has plenty to think about given the current state of the sector. Photo: Reuters.


Binance is in talks with sovereign wealth funds about them taking a stake in the world’s largest cryptocurrency exchange, as it seeks to buttress relationships with governments and offset aggressive regulators, its chief executive told the Financial Times.

The exchange has faced mounting pressure from regulators this year and believes investments from sovereign wealth funds would help improve its “perception and relationships” with various governments, Changpeng Zhao told the FT in an interview.

Read the full report: Financial Times



How Binance Became Biggest Crypto Exchange: WSJ

Binance Founder Willing to Go as Pressure Mounts


George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.


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