- Binancealtcoin CEO of the cryptocurrency exchange Binance, Zhao Chanpeng, rejected on September 7 that he planned to perform an Initial Public Offering (IPO) for Binance.
After a report by Sludgefeed which proposed Binance’s ongoing hiring of Wall Street executive Wei Zhou as its CFO this week implied it was trying to raise an IPO. On his twitter, he wrote “We have no plans for IPO, but that doesn’t make those experiences less valuable in our new industry. On the contrary, those are very much needed”.
#Binance have no plans for IPO, but that doesn't make those experiences less valuable in our new industry. On the contrary, those are very much needed. We are always looking for top talent, from traditional finance, internet … any industry and anywhere in the world! https://t.co/inZZ9eww92
— CZ Binance (@cz_binance) September 7, 2018
Zhou has a considerable skill set when it comes to management in finance. Sludgefeed mentioned that he led two major corporations, the New York Stock Exchange and the IPO maze on Nasdaq.
Further, Binance neared its quarterly profits to $200 million.
On Thursday, those plans were joined by Robinhood, the stocks and crypto exchanging company it was looking for its very own CFO to manage the process.
CEO Baiju Bhatt said at a conference that “It’s something that we think is very much in the future for Robinhood; being a public company I think aligns very closely with our mission.”
Binance in the meantime proceeds to quickly extend its business globally regardless of proceeding with blended audits of its models.
As reported, criticism has originated from different figures within the cryptocurrency industry after alleged proof surfaced that the trade was charging 400 BTC ($2.6 million) to list new resources.