A big crypto exchange is telling its users about maintenance coming up. They say there will be something else happening too, but your money is safe. Binance, the largest cryptocurrency exchange, posted a tweet saying they’re going to do a routine wallet check in the next few days.
The exchange’s Twitter account mentioned that users might notice significant cryptocurrency transfers on different blockchains originating from its wallets.
Binance reassured its community not to be concerned about their assets during the upcoming maintenance, emphasizing that “funds are safu.” The statement referenced the former CEO Changpeng Zhao (CZ), who recently stepped down from his position, passing the role to Richard Teng.
Over the next few days #Binance will be performing standard wallet maintenance.
As a result, you might notice some large transactions across multiple networks from #Binance wallets.
Rest assured, as always, funds are SAFU.
— Binance (@binance) December 15, 2023
CZ Explores Biotech and Crypto Funding Post-Binance
After stepping down as Binance CEO, Changpeng Zhao expressed his intent to focus on other projects and provide consulting services to Binance management if needed. Despite distancing himself from founding a new crypto startup, recent tweets suggest CZ’s interest in biotech, exploring the integration of cryptocurrency to enhance funding for biotechnology startups.
CZ remains a staunch believer in the power of cryptocurrencies to streamline fundraising processes, especially in innovative fields like biotech.
This strategic shift aligns with other tech leaders like Elon Musk, although Musk has been more cautious about embracing crypto on a large scale. With an estimated net worth of $15 billion, CZ’s current endeavors come amid significant challenges.
Binance recently paid a $4.2 billion fine to the SEC, following accusations of money laundering and violating U.S. security laws against CZ and the exchange. Complicating matters, CZ is restricted from leaving the U.S., where he resides in the United Arab Emirates, until his scheduled criminal sentencing on February 23.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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