Binance reported that key senior executives left leadership positions and 1,500 employees were laid off. American regulators are conducting investigations that could lead to criminal prosecution of the exchange’s chairman, Changpeng Zhao, and billions of dollars in fines.
We even talk about executives’ desire for Zhao to resign as CEO and chairman of the board. All this is being done because if Binance collapses, the entire crypto industry will suffer: serious liquidity problems will begin and the value of coins will decrease. If Binance is replaced by other crypto exchanges, it seems unlikely that the company will return to the market.
Source: Ferra
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