CEO Fires Back At Binance CEO

Two CEOs jarred on Twitter over recent EU sanctions, and the devil is in the details.

Crypto Sanctions Face Scrutiny CEO, Kris Marszalek, clapped back to support his company after Binance CEO, Changpeng Zhao (CZ), claimed to be the only group to have implemented the latest EU sanctions.

CZ published a blog and a series of tweets on April 23 detailing Binance’s involvement in the leakage of data surrounding Alexei Navalny––a pivotal opponent to Russian leader Vladimir Putin––and Binance’s role in the evasion of sanctions by Russian individuals. In the thread’s fourth tweet, Binance boldly asserted they were the only crypto group worldwide to implement the fifth––and latest––round of EU sanctions which dropped on April 8.

The assertion by Binance’s CEO did not go unnoticed. Marszalek responded later in the day to retort CZ’s claim as being the only crypto company to have conformed to the recent sanctions. Marszalek straight-up knocked down CZ’s claim:

Binance itself tried to refute potential ‘fake news’ published by Reuters in its blog. Still, the explanation took a step too far in asserting that they are the only crypto company following the sanctions. Marszalek was clearly able to reject CZ’s claim.  In this case, Binance should stay in its own lane. 

Economic sanctions against Russia for engaging in armed conflict against Ukraine have taken the world by storm, and crypto exchanges are at the center of much of the talk surrounding Russia’s ability to evade the reach of Western control. Binance has faced extra scrutiny as of late for seemingly posturing toward Russia while also supplying support for the Ukrainian side.

There’s nothing to gain by dragging in other cryptocurrencies and making themselves seem better than other chains. Instead, Binance should continue to let the facts stand for themselves. 

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