Binance CEO Changpeng Zhao says 100% of customer assets are fully backed one-to-one, and all withdrawals will be covered: 'We will not have an issue'

Dec 15 2022 by Business Insider

 
Changpeng Zhao is the chief executive officer of Binance, the world's largest crypto exchange.

Binance

Changpeng Zhao says users will have no issue withdrawing funds from the exchange.  The Binance chief executive told CNBC on Thursday that his exchange backs customer assets one-to-one.  CZ added that fractional reserve systems are "not OK."

Changpeng Zhao sought to ease crypto investors' worries about the exchange's liquidity on Thursday by emphasizing Binance's committement to honoring any...

Continue Reading Binance CEO Changpeng Zhao says 100% of customer assets are fully backed one-to-one, and all withdrawals will be covered: 'We will not have an issue'