Binance mulls new US strategy, CZ potentially reducing stake: Report
Binance is reportedly considering a new US strategy that may involve co-founder CZ reducing his majority stake to overcome regulatory hurdles.Summary
Binance, the world's largest crypto exchange, is reportedly considering a strategic reshuffle to enhance its presence in the critical US market. A key component of this potential strategy involves co-founder Changpeng “CZ” Zhao potentially reducing his majority stake, which is cited as a "major hurdle" for expansion into key US states. The company is also reportedly exploring partnerships with US entities like asset manager BlackRock and DeFi platform World Liberty Financial (WLFI). This speculation follows rumors of Binance's potential return after Trump pardoned Zhao in October, despite facing backlash from some Democratic lawmakers who view the pardon and crypto industry expansion critically. Since 2019, Binance has served US customers through the separate entity, Binance.US, which operates independently and lacks access to Binance.com's global liquidity.
(Source：Cointelegraph)