Binance hired over 4000 employees in 2021-22: CZ responds to Compliance Allegations
Five years back, in July 2017, Changpeng Zhao—aka CZ—launched Binance. Within a period of 180 days, Binance reportedly grew to become the largest crypto exchange globally. Over the years it has expanded its reigns by launching its services in a host of nations. However, a recent investigative report by Reuters revealed fresh details about how the exchange has been dodging regulations in the US and the UK. The authors of the piece, Tom Wilson and Angus Berwick, have blamed the exchange for disarray in its compliance program. Per Reuters, the reporting includes interviews with around 30 former employees, advisers, and business partners and a review of thousands of company messages, emails, and documents dated between 2017 and early 2022. According to the company messages viewed by Reuters, Binance sought ways around regulatory scrutiny in the UK. Zhao allegedly signed off on a plan in 2020 by a Binance executive to backdate a company document to avoid a re...