Read the full memo the CEO of Binance sent to staffers after the exchange was hit by more than $1 billion of withdrawals in a day amid the FTX fiasco

Dec 15 2022 by Business Insider

 
Binance CEO, Changpeng Zhao.

REUTERS/Darrin Zammit Lupi

Shortly after jittery investors withdrew over $1 billion from Binance on Tuesday, its CEO sent a memo to staffers. Changpeng "CZ" Zhao seemed to try to assuage market fears amid the implosion of crypto peer FTX. In the memo, CZ wrote Binance expects "the next several months to be bumpy." 

On Tuesday, jittery investors withdrew more than $1 billion from Binance, the world's largest crypto exchange. Hours later, the company's CEO,...

Continue Reading Read the full memo the CEO of Binance sent to staffers after the exchange was hit by more than $1 billion of withdrawals in a day amid the FTX fiasco